Polymer Capital Management US LLC Acquires Shares of 204,900 Daqo New Energy Corp. (NYSE:DQ)

Polymer Capital Management US LLC bought a new stake in shares of Daqo New Energy Corp. (NYSE:DQ - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 204,900 shares of the semiconductor company's stock, valued at approximately $3,983,000. Daqo New Energy accounts for 1.1% of Polymer Capital Management US LLC's holdings, making the stock its 23rd largest holding. Polymer Capital Management US LLC owned about 0.31% of Daqo New Energy at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in DQ. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Daqo New Energy in the 4th quarter worth $52,000. Diametric Capital LP grew its position in Daqo New Energy by 25.5% in the 4th quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company's stock valued at $311,000 after acquiring an additional 3,255 shares in the last quarter. Van ECK Associates Corp boosted its position in Daqo New Energy by 7.6% in the 4th quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company's stock valued at $390,000 after buying an additional 1,410 shares during the period. Polymer Capital Management HK LTD acquired a new stake in Daqo New Energy in the 4th quarter valued at about $404,000. Finally, Geode Capital Management LLC lifted its position in shares of Daqo New Energy by 9.2% during the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company's stock worth $683,000 after purchasing an additional 2,813 shares during the last quarter. 47.22% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Separately, StockNews.com raised Daqo New Energy to a "sell" rating in a report 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 issued a strong buy rating to the stock. According to MarketBeat, Daqo New Energy presently has a consensus rating of "Buy" and a consensus price target of $22.26.

Daqo New Energy Price Performance

Daqo New Energy stock traded up $0.12 during trading hours on Friday, hitting $13.76. The company had a trading volume of 1,374,864 shares, compared to its average volume of 1,046,290. The firm's fifty day moving average is $18.95 and its 200-day moving average is $19.64. Daqo New Energy Corp. has a fifty-two week low of $12.90 and a fifty-two week high of $30.85. The firm has a market capitalization of $908.52 million, a P/E ratio of -7.44 and a beta of 0.37.

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

Daqo New Energy Company 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.