Cubist Systematic Strategies LLC Acquires New Shares in Daqo New Energy Corp. (NYSE:DQ)

Cubist Systematic Strategies LLC bought a new position in Daqo New Energy Corp. (NYSE:DQ) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 133,351 shares of the semiconductor company’s stock, valued at approximately $2,592,000.

Several other institutional investors also recently modified their holdings of DQ. Generali Investments CEE investicni spolecnost a.s. bought a new position in Daqo New Energy during the 4th quarter valued at about $52,000. Diametric Capital LP raised its stake in Daqo New Energy by 25.5% during the 4th quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company’s stock valued at $311,000 after buying an additional 3,255 shares during the last quarter. Van ECK Associates Corp raised its stake in Daqo New Energy by 7.6% during 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 last quarter. Polymer Capital Management HK LTD purchased a new position in shares of Daqo New Energy in the 4th quarter worth $404,000. Finally, Geode Capital Management LLC grew its holdings in shares of Daqo New Energy by 9.2% in 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 during the period. 47.22% of the stock is owned by hedge funds and other institutional investors.

Daqo New Energy Price Performance

Shares of NYSE DQ opened at $13.10 on Friday. The stock has a market cap of $878.45 million, a PE ratio of -7.08 and a beta of 0.58. Daqo New Energy Corp. has a 1 year low of $12.41 and a 1 year high of $30.85. The firm has a fifty day moving average price of $15.99 and a 200-day moving average price of $18.67.

Daqo New Energy (NYSE:DQ) last posted its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.05). 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 $123.91 million for the quarter, compared to the consensus estimate of $176.81 million. On average, research analysts expect that Daqo New Energy Corp. will post -3.5 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. StockNews.com raised Daqo New Energy to a “sell” rating in a research report on Monday, April 21st. Hsbc Global Res downgraded shares of Daqo New Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. The Goldman Sachs Group cut shares of Daqo New Energy from a “buy” rating to a “neutral” rating and set a $17.00 target price for the company. in a report on Tuesday, April 15th. Finally, HSBC lowered Daqo New Energy from a “buy” rating to a “hold” rating and set a $14.00 price objective for the company. in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.01.

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.