Cresset Asset Management LLC Sells 4,630 Shares of Daqo New Energy Corp. (NYSE:DQ)

Cresset Asset Management LLC decreased its position in Daqo New Energy Corp. (NYSE:DQ) by 16.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,874 shares of the semiconductor company’s stock after selling 4,630 shares during the quarter. Cresset Asset Management LLC’s holdings in Daqo New Energy were worth $445,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in DQ. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Daqo New Energy in the fourth quarter worth $52,000. Diametric Capital LP raised its stake in shares of Daqo New Energy by 25.5% in the fourth quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company’s stock worth $311,000 after buying an additional 3,255 shares during the period. Van ECK Associates Corp raised its stake in shares of Daqo New Energy by 7.6% in the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock worth $390,000 after buying an additional 1,410 shares during the period. Polymer Capital Management HK LTD bought a new position in shares of Daqo New Energy in the fourth quarter worth about $404,000. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Daqo New Energy by 37.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 45,788 shares of the semiconductor company’s stock worth $890,000 after buying an additional 12,409 shares during the period. Institutional investors own 47.22% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on DQ. HSBC downgraded Daqo New Energy from a “buy” rating to a “hold” rating and set a $14.00 target price on the stock. in a research note on Wednesday, April 30th. Hsbc Global Res cut Daqo New Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. The Goldman Sachs Group cut Daqo New Energy from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a report on Tuesday, April 15th. Finally, StockNews.com upgraded Daqo New Energy to a “sell” rating in a report on Monday, April 21st. 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. According to MarketBeat, Daqo New Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.01.

Daqo New Energy Stock Down 0.5%

Shares of NYSE:DQ opened at $14.90 on Friday. Daqo New Energy Corp. has a 52-week low of $12.41 and a 52-week high of $30.85. The stock has a market cap of $999.15 million, a price-to-earnings ratio of -8.05 and a beta of 0.58. The business has a 50-day moving average price of $15.65 and a 200-day moving average price of $18.41.

Daqo New Energy (NYSE:DQ) last announced its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.05). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The firm had revenue of $123.91 million during the quarter, compared to analysts’ expectations of $176.81 million. As a group, equities analysts anticipate that Daqo New Energy Corp. will post -3.5 EPS for the current fiscal 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.