Daqo New Energy Corp. (NYSE:DQ) Shares Sold by Oaktree Fund Advisors LLC

Oaktree Fund Advisors LLC decreased its position in shares of Daqo New Energy Corp. (NYSE:DQ) by 18.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,793 shares of the semiconductor company’s stock after selling 7,814 shares during the period. Daqo New Energy accounts for about 1.1% of Oaktree Fund Advisors LLC’s investment portfolio, making the stock its 19th largest holding. Oaktree Fund Advisors LLC owned 0.05% of Daqo New Energy worth $657,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in DQ. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Daqo New Energy during the 4th quarter valued at about $52,000. Daiwa Securities Group Inc. boosted its holdings in Daqo New Energy by 15.4% during the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock worth $214,000 after buying an additional 1,400 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in Daqo New Energy by 66.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,000 shares of the semiconductor company’s stock worth $285,000 after buying an additional 5,570 shares during the last quarter. Van ECK Associates Corp increased its holdings 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 valued at $390,000 after buying an additional 1,410 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Daqo New Energy by 9.2% during the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock valued at $683,000 after acquiring an additional 2,813 shares during the last quarter. 47.22% of the stock is currently owned by institutional investors and hedge funds.

Daqo New Energy Stock Performance

Shares of NYSE:DQ opened at $18.56 on Friday. The firm has a 50 day simple moving average of $19.56 and a 200 day simple moving average of $19.74. Daqo New Energy Corp. has a 52 week low of $13.62 and a 52 week high of $30.85. The company has a market cap of $1.22 billion, a PE ratio of -10.03 and a beta of 0.41.

Daqo New Energy (NYSE:DQ) last released its earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($2.02). 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 $195.36 million during the quarter, compared to analysts’ expectations of $153.54 million. On average, equities analysts predict that Daqo New Energy Corp. will post -3.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Daqo New Energy to a “sell” rating in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $22.26.

About Daqo New Energy

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.