Vontobel Holding Ltd. Buys Shares of 56,340 DAQO New Energy Corp. $DQ

Vontobel Holding Ltd. purchased a new position in DAQO New Energy Corp. (NYSE:DQ) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 56,340 shares of the semiconductor company’s stock, valued at approximately $1,585,000. Vontobel Holding Ltd. owned approximately 0.08% of DAQO New Energy at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Polunin Capital Partners Ltd purchased a new position in DAQO New Energy in the third quarter valued at about $37,183,000. Luminus Management LLC bought a new stake in shares of DAQO New Energy in the 3rd quarter valued at about $1,125,000. Squarepoint Ops LLC grew its position in shares of DAQO New Energy by 34.0% in the 2nd quarter. Squarepoint Ops LLC now owns 51,516 shares of the semiconductor company’s stock worth $781,000 after buying an additional 13,072 shares during the last quarter. Marex Group plc bought a new position in shares of DAQO New Energy during the 2nd quarter worth approximately $356,000. Finally, Headlands Technologies LLC purchased a new stake in DAQO New Energy during the second quarter valued at approximately $29,000. 47.22% of the stock is currently owned by hedge funds and other institutional investors.

DAQO New Energy Price Performance

Shares of DQ stock opened at $31.85 on Friday. The business has a fifty day moving average of $31.39 and a 200 day moving average of $25.60. DAQO New Energy Corp. has a 1 year low of $12.40 and a 1 year high of $36.59. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -6.20 and a beta of 0.66.

DAQO New Energy (NYSE:DQ) last posted its quarterly earnings results on Monday, October 27th. The semiconductor company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.39. The business had revenue of $244.60 million for the quarter, compared to the consensus estimate of $176.78 million. DAQO New Energy had a negative return on equity of 5.89% and a negative net margin of 53.74%. As a group, equities research analysts expect that DAQO New Energy Corp. will post -3.5 earnings per share for the current year.

Analyst Ratings Changes

DQ has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DAQO New Energy in a report on Monday. New Street Research set a $15.40 price objective on DAQO New Energy in a research report on Thursday, September 18th. The Goldman Sachs Group set a $18.30 target price on DAQO New Energy and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Wall Street Zen upgraded DAQO New Energy from a “sell” rating to a “hold” rating in a research note on Monday, November 3rd. Finally, Citigroup boosted their price target on DAQO New Energy from $27.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $27.04.

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.