AI Squared Management Ltd Buys Shares of 77,100 Daqo New Energy Corp. (NYSE:DQ)

AI Squared Management Ltd acquired a new position in shares of Daqo New Energy Corp. (NYSE:DQ - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 77,100 shares of the semiconductor company's stock, valued at approximately $1,499,000. Daqo New Energy comprises about 1.5% of AI Squared Management Ltd's investment portfolio, making the stock its 19th biggest position. AI Squared Management Ltd owned about 0.12% of Daqo New Energy as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. American Century Companies Inc. raised its stake in Daqo New Energy by 9.3% during the fourth quarter. American Century Companies Inc. now owns 210,738 shares of the semiconductor company's stock worth $4,097,000 after purchasing an additional 17,880 shares during the period. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Daqo New Energy in the 4th quarter worth $52,000. Greenwoods Asset Management Hong Kong Ltd. boosted its holdings in Daqo New Energy by 5,286.6% in the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company's stock valued at $52,775,000 after acquiring an additional 2,664,381 shares during the last quarter. Van ECK Associates Corp grew its position in Daqo New Energy by 7.6% during the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company's stock valued at $390,000 after acquiring an additional 1,410 shares during the period. Finally, Ariose Capital Management Ltd increased its stake in Daqo New Energy by 27.5% during the fourth quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company's stock worth $29,271,000 after acquiring an additional 324,585 shares during the last quarter. Hedge funds and other institutional investors own 47.22% of the company's stock.

Remove Ads

Analyst Ratings Changes

Separately, StockNews.com raised Daqo New Energy to a "sell" rating in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Daqo New Energy has an average rating of "Buy" and a consensus price target of $22.26.

Daqo New Energy Trading Up 1.6 %

NYSE:DQ traded up $0.30 during mid-day trading on Friday, hitting $18.56. The company had a trading volume of 874,065 shares, compared to its average volume of 1,027,805. The business has a fifty day simple moving average of $19.56 and a 200-day simple moving average of $19.74. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -10.03 and a beta of 0.41. Daqo New Energy Corp. has a 1 year low of $13.62 and a 1 year high of $30.85.

Daqo New Energy (NYSE:DQ - Get Free Report) last announced its earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.69) by ($2.02). The business had revenue of $195.36 million during the quarter, compared to analyst estimates of $153.54 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. As a group, research analysts anticipate that Daqo New Energy Corp. will post -3.5 earnings per share for the current year.

Daqo New Energy Profile

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.