Symmetry Investments LP Makes New Investment in Daqo New Energy Corp. (NYSE:DQ)

Symmetry Investments LP bought a new stake in Daqo New Energy Corp. (NYSE:DQ) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 53,500 shares of the semiconductor company’s stock, valued at approximately $1,040,000. Symmetry Investments LP owned 0.08% of Daqo New Energy at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Continental General Insurance Co. lifted its holdings in shares of Daqo New Energy by 5.8% during the 4th quarter. Continental General Insurance Co. now owns 5,916,202 shares of the semiconductor company’s stock valued at $115,011,000 after purchasing an additional 322,084 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. lifted its stake in Daqo New Energy by 5,286.6% in the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company’s stock valued at $52,775,000 after buying an additional 2,664,381 shares in the last quarter. Ariose Capital Management Ltd boosted its holdings in shares of Daqo New Energy by 27.5% in 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 period. State Street Corp boosted its holdings in shares of Daqo New Energy by 1.1% in the third quarter. State Street Corp now owns 842,921 shares of the semiconductor company’s stock valued at $17,170,000 after buying an additional 8,983 shares during the period. Finally, Prudential PLC bought a new stake in shares of Daqo New Energy during the fourth quarter worth $14,775,000. 47.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. The Goldman Sachs Group cut shares of Daqo New Energy from a “buy” rating to a “neutral” rating and set a $17.00 price objective on the stock. in a research report on Tuesday, April 15th. StockNews.com upgraded Daqo New Energy to a “sell” rating in a report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Daqo New Energy currently has a consensus rating of “Moderate Buy” and an average price target of $21.21.

Daqo New Energy Trading Up 5.1 %

Daqo New Energy stock opened at $13.80 on Wednesday. The company has a fifty day simple moving average of $18.00 and a 200 day simple moving average of $19.30. Daqo New Energy Corp. has a 1-year low of $12.90 and a 1-year high of $30.85. The company has a market cap of $910.83 million, a P/E ratio of -7.46 and a beta of 0.37.

Daqo New Energy (NYSE:DQ) last released its earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $195.36 million during the quarter, compared to analyst estimates of $153.54 million. On average, equities research analysts forecast 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.