California Public Employees Retirement System Lowers Stake in Daqo New Energy Corp. (NYSE:DQ)

California Public Employees Retirement System cut its position in Daqo New Energy Corp. (NYSE:DQ) by 13.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,213 shares of the semiconductor company’s stock after selling 10,842 shares during the period. California Public Employees Retirement System’s holdings in Daqo New Energy were worth $1,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of DQ. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Daqo New Energy by 32.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company’s stock valued at $2,765,000 after acquiring an additional 33,031 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Daqo New Energy in the third quarter worth about $1,053,000. AI Squared Management Ltd purchased a new stake in shares of Daqo New Energy in the fourth quarter worth about $1,499,000. Ariose Capital Management Ltd boosted 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 valued at $29,271,000 after buying an additional 324,585 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Daqo New Energy by 9.2% in the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 47.22% of the company’s stock.

Daqo New Energy Stock Performance

NYSE:DQ opened at $13.49 on Wednesday. The stock’s fifty day moving average is $19.27 and its 200 day moving average is $19.74. The firm has a market capitalization of $890.43 million, a PE ratio of -7.29 and a beta of 0.37. Daqo New Energy Corp. has a fifty-two week low of $13.30 and a fifty-two week high of $30.85.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($2.02). The firm had revenue of $195.36 million for the quarter, compared to analysts’ expectations of $153.54 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. Equities analysts forecast that Daqo New Energy Corp. will post -3.5 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Daqo New Energy to a “sell” rating in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently 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.