Vontobel Holding Ltd. Takes $1.59 Million Position in DAQO New Energy Corp. $DQ

Vontobel Holding Ltd. acquired a new position in DAQO New Energy Corp. (NYSE:DQ) during the third quarter, Holdings Channel.com reports. The firm acquired 56,340 shares of the semiconductor company’s stock, valued at approximately $1,585,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DQ. Headlands Technologies LLC purchased a new stake in DAQO New Energy in the second quarter valued at $29,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of DAQO New Energy by 39.1% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,364 shares of the semiconductor company’s stock worth $476,000 after buying an additional 8,815 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of DAQO New Energy by 4.7% in the first quarter. American Century Companies Inc. now owns 220,623 shares of the semiconductor company’s stock worth $3,995,000 after buying an additional 9,885 shares during the last quarter. Vident Advisory LLC acquired a new stake in DAQO New Energy during the first quarter worth about $216,000. Finally, Squarepoint Ops LLC raised its position in DAQO New Energy by 34.0% during the second quarter. Squarepoint Ops LLC now owns 51,516 shares of the semiconductor company’s stock valued at $781,000 after acquiring an additional 13,072 shares in the last quarter. 47.22% of the stock is currently owned by institutional investors and hedge funds.

DAQO New Energy Stock Performance

DAQO New Energy stock opened at $31.85 on Friday. The stock has a market capitalization of $2.14 billion, a P/E ratio of -6.20 and a beta of 0.66. The company’s fifty day moving average price is $31.39 and its 200 day moving average price is $25.60. DAQO New Energy Corp. has a 1 year low of $12.40 and a 1 year high of $36.59.

DAQO New Energy (NYSE:DQ) last posted its quarterly earnings data on Monday, October 27th. The semiconductor company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.39. DAQO New Energy had a negative net margin of 53.74% and a negative return on equity of 5.89%. The company had revenue of $244.60 million during the quarter, compared to analysts’ expectations of $176.78 million. Sell-side analysts predict that DAQO New Energy Corp. will post -3.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DQ. Wall Street Zen raised DAQO New Energy from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Roth Capital set a $30.00 target price on shares of DAQO New Energy and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of DAQO New Energy in a report on Monday. Citigroup lifted their price objective on shares of DAQO New Energy from $27.00 to $37.00 and gave the company a “buy” rating in a report on Monday, September 8th. Finally, The Goldman Sachs Group set a $18.30 price objective on shares of DAQO New Energy and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.04.

DAQO New Energy Profile

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.