Polymer Capital Management US LLC Takes Position in Daqo New Energy Corp. (NYSE:DQ)

Polymer Capital Management US LLC purchased a new position in shares of Daqo New Energy Corp. (NYSE:DQ) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 204,900 shares of the semiconductor company’s stock, valued at approximately $3,983,000. Daqo New Energy makes up 1.1% of Polymer Capital Management US LLC’s holdings, making the stock its 23rd largest holding. Polymer Capital Management US LLC owned 0.31% of Daqo New Energy at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Daqo New Energy by 32.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company’s stock worth $2,765,000 after purchasing an additional 33,031 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Daqo New Energy during the third quarter worth about $1,053,000. AI Squared Management Ltd acquired a new position in shares of Daqo New Energy in the fourth quarter valued at approximately $1,499,000. Ariose Capital Management Ltd lifted its stake in shares of Daqo New Energy by 27.5% during the fourth quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock valued at $29,271,000 after buying an additional 324,585 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Daqo New Energy by 57.5% during the third quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company’s stock worth $1,519,000 after acquiring an additional 27,223 shares during the last quarter. 47.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Daqo New Energy Stock Performance

Shares of DQ stock opened at $15.52 on Monday. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -8.39 and a beta of 0.37. Daqo New Energy Corp. has a one year low of $13.62 and a one year high of $30.85. The company has a 50 day moving average price of $19.48 and a 200 day moving average price of $19.81.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings data on Thursday, February 27th. The semiconductor company reported ($2.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($2.02). 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 $195.36 million for the quarter, compared to analyst estimates of $153.54 million. As a group, equities analysts forecast that Daqo New Energy Corp. will post -3.5 EPS for the current fiscal year.

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.