DAQO New Energy Corp. $DQ Shares Sold by Profund Advisors LLC

Profund Advisors LLC cut its stake in DAQO New Energy Corp. (NYSE:DQ) by 7.6% in the second quarter, Holdings Channel.com reports. The fund owned 23,232 shares of the semiconductor company’s stock after selling 1,919 shares during the quarter. Profund Advisors LLC’s holdings in DAQO New Energy were worth $352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of DQ. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of DAQO New Energy by 39.1% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,364 shares of the semiconductor company’s stock worth $476,000 after purchasing an additional 8,815 shares in the last quarter. FengHe Fund Management Pte. Ltd. increased its position in DAQO New Energy by 13.0% during the second quarter. FengHe Fund Management Pte. Ltd. now owns 289,376 shares of the semiconductor company’s stock worth $4,390,000 after buying an additional 33,300 shares during the period. Public Employees Retirement System of Ohio increased its position in DAQO New Energy by 41.6% during the second quarter. Public Employees Retirement System of Ohio now owns 46,300 shares of the semiconductor company’s stock worth $702,000 after buying an additional 13,600 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in DAQO New Energy by 34.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 174,912 shares of the semiconductor company’s stock valued at $3,168,000 after buying an additional 44,780 shares during the last quarter. Finally, Caxton Associates LLP acquired a new stake in shares of DAQO New Energy in the first quarter valued at approximately $1,705,000. Institutional investors and hedge funds own 47.22% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on DQ. Wall Street Zen raised shares of DAQO New Energy from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Roth Capital set a $30.00 price objective on shares of DAQO New Energy and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. New Street Research set a $15.40 target price on shares of DAQO New Energy in a report on Thursday, September 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of DAQO New Energy in a research note on Thursday. Finally, Hsbc Global Res upgraded DAQO New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.04.

DAQO New Energy Trading Up 5.9%

DQ stock opened at $33.59 on Friday. The company has a market cap of $2.25 billion, a P/E ratio of -6.53 and a beta of 0.73. DAQO New Energy Corp. has a 52 week low of $12.40 and a 52 week high of $36.59. The company’s 50-day moving average price is $28.62 and its 200 day moving average price is $21.79.

DAQO New Energy (NYSE:DQ) last posted its earnings results on Monday, October 27th. The semiconductor company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.39. DAQO New Energy had a negative return on equity of 5.89% and a negative net margin of 53.74%.The company had revenue of $162.30 million for the quarter, compared to the consensus estimate of $176.78 million. On average, equities research analysts expect that DAQO New Energy Corp. will post -3.5 earnings per share for the current year.

DAQO New Energy announced that its board has approved a stock buyback program on Tuesday, August 26th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the semiconductor company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.