Geode Capital Management LLC Increases Position in Daqo New Energy Corp. (NYSE:DQ)

Geode Capital Management LLC lifted its holdings in shares of Daqo New Energy Corp. (NYSE:DQ) by 9.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,546 shares of the semiconductor company’s stock after buying an additional 2,813 shares during the period. Geode Capital Management LLC’s holdings in Daqo New Energy were worth $683,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Signaturefd LLC increased its stake in Daqo New Energy by 27.3% in the 3rd quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock valued at $57,000 after buying an additional 602 shares during the period. Blue Trust Inc. boosted its holdings in shares of Daqo New Energy by 132.3% in the third quarter. Blue Trust Inc. now owns 4,567 shares of the semiconductor company’s stock valued at $93,000 after acquiring an additional 2,601 shares in the last quarter. AXA S.A. increased its stake in shares of Daqo New Energy by 202.3% during the second quarter. AXA S.A. now owns 6,387 shares of the semiconductor company’s stock worth $93,000 after acquiring an additional 4,274 shares during the period. Rhumbline Advisers raised its holdings in Daqo New Energy by 22.2% during the second quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock worth $118,000 after purchasing an additional 1,470 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Daqo New Energy by 15.4% in the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock valued at $214,000 after purchasing an additional 1,400 shares during the period. Hedge funds and other institutional investors own 47.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on DQ shares. Daiwa America upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. StockNews.com raised Daqo New Energy to a “sell” rating in a report on Monday, September 23rd. HSBC raised Daqo New Energy from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Hsbc Global Res raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Daiwa Capital Markets upgraded shares of Daqo New Energy from a “neutral” rating to an “outperform” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $22.26.

Daqo New Energy Stock Performance

Daqo New Energy stock opened at $19.27 on Friday. Daqo New Energy Corp. has a fifty-two week low of $13.62 and a fifty-two week high of $30.85. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -10.42 and a beta of 0.28. The stock’s fifty day moving average is $19.78 and its two-hundred day moving average is $18.32.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). 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 $198.50 million during the quarter, compared to analyst estimates of $186.90 million. During the same period in the previous year, the company posted ($0.09) earnings per share. As a group, sell-side analysts forecast 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.