Harvest Fund Management Co. Ltd Buys Shares of 252,250 DAQO New Energy Corp. $DQ

Harvest Fund Management Co. Ltd bought a new stake in DAQO New Energy Corp. (NYSE:DQ) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 252,250 shares of the semiconductor company’s stock, valued at approximately $7,096,000.

Several other institutional investors have also recently bought and sold shares of DQ. Continental General Insurance Co. lifted its holdings in shares of DAQO New Energy by 11.3% in the third quarter. Continental General Insurance Co. now owns 6,641,986 shares of the semiconductor company’s stock worth $186,839,000 after acquiring an additional 675,784 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of DAQO New Energy by 1.4% during the 2nd quarter. Mackenzie Financial Corp now owns 1,866,454 shares of the semiconductor company’s stock valued at $28,314,000 after purchasing an additional 26,100 shares during the last quarter. Vanguard Group Inc. increased its position in DAQO New Energy by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,738,788 shares of the semiconductor company’s stock worth $48,912,000 after purchasing an additional 5,448 shares in the last quarter. Polunin Capital Partners Ltd acquired a new position in DAQO New Energy during the 3rd quarter worth approximately $37,183,000. Finally, Goldman Sachs Group Inc. lifted its stake in DAQO New Energy by 117.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock valued at $21,005,000 after purchasing an additional 625,900 shares during the last quarter. Institutional investors and hedge funds own 47.22% of the company’s stock.

DAQO New Energy Stock Performance

NYSE:DQ opened at $23.08 on Friday. DAQO New Energy Corp. has a fifty-two week low of $12.40 and a fifty-two week high of $36.59. The company has a 50 day simple moving average of $24.90 and a two-hundred day simple moving average of $27.87. The company has a market capitalization of $1.55 billion, a PE ratio of -9.09 and a beta of 0.68.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DQ. Weiss Ratings reissued a “sell (d-)” rating on shares of DAQO New Energy in a report on Monday, December 29th. New Street Research set a $18.13 target price on DAQO New Energy in a report on Tuesday, February 3rd. Finally, Glj Research downgraded 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 research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.43.

DAQO New Energy 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.