Daqo New Energy Corp. (NYSE:DQ) Stake Reduced by BIT Capital GmbH

BIT Capital GmbH lessened its position in shares of Daqo New Energy Corp. (NYSE:DQ - Free Report) by 45.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 423,282 shares of the semiconductor company's stock after selling 353,465 shares during the period. Daqo New Energy comprises 0.7% of BIT Capital GmbH's investment portfolio, making the stock its 24th biggest holding. BIT Capital GmbH owned about 0.64% of Daqo New Energy worth $8,229,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of DQ. Daiwa Securities Group Inc. boosted its holdings in shares of Daqo New Energy by 15.4% in the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company's stock valued at $214,000 after acquiring an additional 1,400 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Daqo New Energy by 57.5% during the third quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company's stock worth $1,519,000 after buying an additional 27,223 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Daqo New Energy by 32.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company's stock worth $2,765,000 after buying an additional 33,031 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in Daqo New Energy by 66.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,000 shares of the semiconductor company's stock valued at $285,000 after buying an additional 5,570 shares during the period. Finally, State Street Corp increased its stake in shares of Daqo New Energy by 1.1% during the 3rd quarter. State Street Corp now owns 842,921 shares of the semiconductor company's stock valued at $17,170,000 after acquiring an additional 8,983 shares during the last quarter. 47.22% of the stock is owned by hedge funds and other institutional investors.

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Daqo New Energy Stock Down 2.9 %

NYSE:DQ traded down $0.54 during trading hours on Monday, reaching $17.96. 340,953 shares of the stock were exchanged, compared to its average volume of 1,025,112. Daqo New Energy Corp. has a 52 week low of $13.62 and a 52 week high of $30.85. The stock has a market capitalization of $1.19 billion, a P/E ratio of -9.70 and a beta of 0.41. The firm has a 50 day simple moving average of $19.56 and a 200-day simple moving average of $19.77.

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

Analyst Ratings Changes

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

About Daqo New Energy

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.