Point72 Asset Management L.P. Sells 229,741 Shares of Daqo New Energy Corp. (NYSE:DQ)

Point72 Asset Management L.P. cut its holdings in Daqo New Energy Corp. (NYSE:DQ - Free Report) by 30.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 529,195 shares of the semiconductor company's stock after selling 229,741 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.80% of Daqo New Energy worth $10,780,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. grew its stake in shares of Daqo New Energy by 12,187.5% during the second quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company's stock worth $29,000 after buying an additional 1,950 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Daqo New Energy by 27.3% during the 3rd quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company's stock valued at $57,000 after acquiring an additional 602 shares in the last quarter. AXA S.A. grew its position in Daqo New Energy by 202.3% during the 2nd quarter. AXA S.A. now owns 6,387 shares of the semiconductor company's stock worth $93,000 after acquiring an additional 4,274 shares during the last quarter. Rhumbline Advisers increased its holdings in Daqo New Energy by 22.2% in the 2nd quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company's stock worth $118,000 after purchasing an additional 1,470 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in Daqo New Energy by 37.9% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 14,442 shares of the semiconductor company's stock valued at $211,000 after purchasing an additional 3,970 shares during the last quarter. Institutional investors own 47.22% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on DQ. Hsbc Global Res raised Daqo New Energy from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 2nd. Roth Mkm decreased their price target on shares of Daqo New Energy from $23.00 to $15.00 and set a "neutral" rating for the company in a research report on Wednesday, August 28th. HSBC raised shares of Daqo New Energy from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. Daiwa Capital Markets upgraded Daqo New Energy from a "neutral" rating to an "outperform" rating in a report on Wednesday, October 30th. Finally, StockNews.com raised Daqo New Energy to a "sell" rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $22.26.

Daqo New Energy Trading Down 7.9 %

DQ stock traded down $1.56 during midday trading on Friday, hitting $18.08. The stock had a trading volume of 2,162,605 shares, compared to its average volume of 859,914. The firm has a market cap of $1.19 billion, a P/E ratio of -9.77 and a beta of 0.28. The business has a fifty day moving average price of $21.06 and a two-hundred day moving average price of $18.47. 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 quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.12). Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. The business had revenue of $198.50 million during the quarter, compared to analyst estimates of $186.90 million. During the same period in the prior year, the firm earned ($0.09) earnings per share. On average, equities analysts anticipate that Daqo New Energy Corp. will post -3.5 EPS 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.