BlueCrest Capital Management Ltd Takes $1.17 Million Position in DAQO New Energy Corp. $DQ

BlueCrest Capital Management Ltd purchased a new position in DAQO New Energy Corp. (NYSE:DQ) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 41,600 shares of the semiconductor company’s stock, valued at approximately $1,170,000. BlueCrest Capital Management Ltd owned about 0.06% of DAQO New Energy as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of DQ. Allianz Asset Management GmbH bought a new stake in shares of DAQO New Energy in the 3rd quarter worth about $11,673,000. FengHe Fund Management Pte. Ltd. grew its holdings in DAQO New Energy by 62.4% during the 3rd quarter. FengHe Fund Management Pte. Ltd. now owns 469,833 shares of the semiconductor company’s stock valued at $13,216,000 after purchasing an additional 180,457 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in DAQO New Energy in the 3rd quarter worth about $1,585,000. Luminus Management LLC bought a new stake in DAQO New Energy in the third quarter worth about $1,125,000. Finally, Polunin Capital Partners Ltd bought a new stake in DAQO New Energy in the third quarter worth about $37,183,000. 47.22% of the stock is owned by hedge funds and other institutional investors.

DAQO New Energy Price Performance

Shares of DQ stock opened at $23.44 on Wednesday. The company has a market capitalization of $1.57 billion, a P/E ratio of -9.23 and a beta of 0.68. The company’s 50-day simple moving average is $24.65 and its two-hundred day simple moving average is $27.92. DAQO New Energy Corp. has a one year low of $12.40 and a one year high of $36.59.

DAQO New Energy (NYSE:DQ) last issued its earnings results on Thursday, February 26th. The semiconductor company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $221.71 million for the quarter, compared to analysts’ expectations of $276.94 million. On average, research analysts expect that DAQO New Energy Corp. will post -3.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on DQ shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of DAQO New Energy in a report on Monday, December 29th. New Street Research set a $18.13 price objective on DAQO New Energy in a research report on Tuesday, February 3rd. Finally, Glj Research lowered DAQO New Energy from a “buy” rating to a “sell” rating and reduced their target price for the stock from $30.51 to $18.13 in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $25.43.

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.