Granite Point Capital Management L.P. bought a new position in Daqo New Energy Corp (NYSE:DQ) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,000 shares of the semiconductor company’s stock, valued at approximately $290,000. Granite Point Capital Management L.P. owned approximately 0.10% of Daqo New Energy at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its holdings in Daqo New Energy by 264.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,767 shares of the semiconductor company’s stock valued at $161,000 after buying an additional 5,636 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Daqo New Energy in the 2nd quarter valued at $210,000. Ecofin Ltd. boosted its stake in shares of Daqo New Energy by 22.3% in the 2nd quarter. Ecofin Ltd. now owns 103,205 shares of the semiconductor company’s stock valued at $2,143,000 after purchasing an additional 18,846 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Daqo New Energy by 29,376.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 28,887 shares of the semiconductor company’s stock valued at $852,000 after purchasing an additional 28,789 shares in the last quarter. Finally, Quentec Asset Management LLC boosted its stake in shares of Daqo New Energy by 5.0% in the 2nd quarter. Quentec Asset Management LLC now owns 977,106 shares of the semiconductor company’s stock valued at $20,285,000 after purchasing an additional 46,888 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on DQ. Roth Capital set a $65.00 price target on Daqo New Energy and gave the company a “buy” rating in a research note on Monday. Zacks Investment Research raised Daqo New Energy from a “hold” rating to a “strong-buy” rating and set a $50.00 price target for the company in a research report on Monday, November 20th. Finally, TheStreet raised Daqo New Energy from a “c+” rating to a “b” rating in a research report on Wednesday, November 15th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $51.67.
TRADEMARK VIOLATION NOTICE: This article was originally posted by Ticker Report and is the property of of Ticker Report. If you are reading this article on another domain, it was stolen and republished in violation of United States and international copyright and trademark law. The original version of this article can be read at https://www.tickerreport.com/banking-finance/3079624/10000-shares-in-daqo-new-energy-corp-dq-acquired-by-granite-point-capital-management-l-p.html.
Daqo New Energy Company Profile
Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company’s segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions.
Receive News & Ratings for Daqo New Energy Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Daqo New Energy Corp and related companies with MarketBeat.com's FREE daily email newsletter.