Hel Ved Capital Management Ltd Acquires Shares of 186,547 DAQO New Energy Corp. $DQ

Hel Ved Capital Management Ltd bought a new position in shares of DAQO New Energy Corp. (NYSE:DQ) in the third quarter, Holdings Channel.com reports. The fund bought 186,547 shares of the semiconductor company’s stock, valued at approximately $5,248,000. DAQO New Energy makes up approximately 1.1% of Hel Ved Capital Management Ltd’s investment portfolio, making the stock its 20th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of DQ. Headlands Technologies LLC acquired a new position in DAQO New Energy during the second quarter worth about $29,000. Fox Run Management L.L.C. acquired a new stake in DAQO New Energy in the 3rd quarter valued at about $231,000. Dimensional Fund Advisors LP purchased a new position in DAQO New Energy in the 3rd quarter worth approximately $279,000. Compound Planning Inc. purchased a new position in DAQO New Energy in the 3rd quarter worth approximately $461,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of DAQO New Energy during the 3rd quarter worth approximately $517,000. 47.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DQ has been the subject of several recent research reports. New Street Research set a $18.13 price target on DAQO New Energy in a report on Tuesday, February 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of DAQO New Energy in a research note on Monday, December 29th. Finally, Glj Research cut DAQO New Energy from a “buy” rating to a “sell” rating and dropped their target price for the company from $30.51 to $18.13 in a report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, DAQO New Energy presently has a consensus rating of “Hold” and an average target price of $25.43.

DAQO New Energy Stock Performance

DQ opened at $22.09 on Friday. The stock has a market capitalization of $1.48 billion, a PE ratio of -8.70 and a beta of 0.68. DAQO New Energy Corp. has a one year low of $12.40 and a one year high of $36.59. The business’s 50 day moving average price is $25.56 and its 200 day moving average price is $27.86.

DAQO New Energy (NYSE:DQ) last posted its earnings results on Thursday, February 26th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07). DAQO New Energy had a negative return on equity of 2.92% and a negative net margin of 25.62%.The business had revenue of $221.71 million for the quarter, compared to analyst estimates of $276.94 million. As a group, equities research analysts forecast that DAQO New Energy Corp. will post -3.5 earnings per share for the current fiscal year.

DAQO New Energy Company Profile

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.