AXQ Capital LP Acquires New Position in Daqo New Energy Corp. (NYSE:DQ)

AXQ Capital LP acquired a new stake in Daqo New Energy Corp. (NYSE:DQ – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,200 shares of the semiconductor company’s stock, valued at approximately $355,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Daqo New Energy by 1.5% in the third quarter. BlackRock Inc. now owns 6,015,084 shares of the semiconductor company’s stock valued at $319,279,000 after acquiring an additional 87,611 shares during the period. Vanguard Group Inc. boosted its stake in Daqo New Energy by 0.9% in the first quarter. Vanguard Group Inc. now owns 2,147,973 shares of the semiconductor company’s stock valued at $88,753,000 after acquiring an additional 19,268 shares during the period. Tairen Capital Ltd boosted its position in shares of Daqo New Energy by 195.8% during the third quarter. Tairen Capital Ltd now owns 1,929,432 shares of the semiconductor company’s stock worth $102,414,000 after buying an additional 1,277,247 shares during the period. State Street Corp boosted its position in shares of Daqo New Energy by 11.9% during the third quarter. State Street Corp now owns 1,308,904 shares of the semiconductor company’s stock worth $69,448,000 after buying an additional 139,133 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Daqo New Energy by 250.7% during the third quarter. Renaissance Technologies LLC now owns 923,117 shares of the semiconductor company’s stock worth $48,999,000 after buying an additional 659,917 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Daiwa Capital Markets upgraded Daqo New Energy from a “neutral” rating to an “outperform” rating in a research report on Thursday, May 4th. StockNews.com assumed coverage on Daqo New Energy in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, HSBC boosted their price objective on Daqo New Energy from $44.60 to $45.60 in a research report on Monday, May 1st.

Daqo New Energy Price Performance

DQ opened at $38.34 on Friday. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 1.86 and a beta of 0.51. Daqo New Energy Corp. has a 1-year low of $36.91 and a 1-year high of $77.18. The business has a 50 day moving average price of $44.48 and a two-hundred day moving average price of $45.99.

Daqo New Energy (NYSE:DQ – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The semiconductor company reported $4.71 earnings per share (EPS) for the quarter. The company had revenue of $864.25 million for the quarter, compared to analysts’ expectations of $1.13 billion. Daqo New Energy had a return on equity of 25.68% and a net margin of 39.70%. Equities analysts expect that Daqo New Energy Corp. will post 17.61 EPS for the current fiscal year.

Daqo New Energy Company Profile

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Daqo New Energy Corp. is a holding company, which engages in the provision of polysilicon products. It involves in the manufacture and sale of polysilicon to photovoltaic product manufactures, who further process the polysilicon into ingots, wafers, cells, and modules for solar power solutions. The company was founded by Guang Fu Xu on November 22, 2007 and is headquartered in Shanghai, China.