JPMorgan Chase & Co. Has $1.77 Million Stake in Daqo New Energy Corp. (NYSE:DQ)

JPMorgan Chase & Co. cut its holdings in shares of Daqo New Energy Corp. (NYSE:DQ - Free Report) by 53.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 87,067 shares of the semiconductor company's stock after selling 99,265 shares during the quarter. JPMorgan Chase & Co. owned 0.13% of Daqo New Energy worth $1,774,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Daqo New Energy by 9.2% during the third quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company's stock worth $683,000 after acquiring an additional 2,813 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Daqo New Energy during the 3rd quarter worth $1,053,000. Wellington Management Group LLP grew its stake in Daqo New Energy by 26.0% in the 3rd quarter. Wellington Management Group LLP now owns 128,422 shares of the semiconductor company's stock valued at $2,616,000 after buying an additional 26,462 shares during the last quarter. Wexford Capital LP raised its holdings in Daqo New Energy by 395.7% in the 3rd quarter. Wexford Capital LP now owns 164,809 shares of the semiconductor company's stock worth $3,357,000 after acquiring an additional 131,564 shares during the period. Finally, State Street Corp raised its holdings in Daqo New Energy by 1.1% in the 3rd quarter. State Street Corp now owns 842,921 shares of the semiconductor company's stock worth $17,170,000 after acquiring an additional 8,983 shares during the period. Hedge funds and other institutional investors own 47.22% of the company's stock.

Daqo New Energy Price Performance

Shares of NYSE DQ traded up $0.13 during trading hours on Thursday, reaching $17.62. The stock had a trading volume of 652,564 shares, compared to its average volume of 751,415. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -9.52 and a beta of 0.26. Daqo New Energy Corp. has a twelve month low of $13.62 and a twelve month high of $30.85. The business's fifty day moving average is $19.25 and its two-hundred day moving average is $18.52.

Daqo New Energy (NYSE:DQ - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.12). The business had revenue of $198.50 million during the quarter, compared to the consensus estimate of $186.90 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. During the same period last year, the firm earned ($0.09) EPS. Sell-side analysts forecast that Daqo New Energy Corp. will post -3.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DQ has been the topic of several research analyst reports. HSBC raised Daqo New Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Daiwa America upgraded Daqo New Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 30th. Daiwa Capital Markets upgraded shares of Daqo New Energy from a "neutral" rating to an "outperform" rating in a research note on Wednesday, October 30th. Finally, Hsbc Global Res raised shares of Daqo New Energy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price 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.