Wolf Hill Capital Management LP Purchases Shares of 413,203 DAQO New Energy Corp. $DQ

Wolf Hill Capital Management LP acquired a new stake in DAQO New Energy Corp. (NYSE:DQ) in the 3rd quarter, Holdings Channel reports. The firm acquired 413,203 shares of the semiconductor company’s stock, valued at approximately $11,623,000. DAQO New Energy makes up 1.1% of Wolf Hill Capital Management LP’s holdings, making the stock its 23rd biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Headlands Technologies LLC purchased a new stake in shares of DAQO New Energy during the second quarter worth approximately $29,000. Profund Advisors LLC lifted its stake in DAQO New Energy by 9.9% in the third quarter. Profund Advisors LLC now owns 25,537 shares of the semiconductor company’s stock worth $718,000 after acquiring an additional 2,305 shares during the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. grew its holdings in DAQO New Energy by 777.7% during the 3rd quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 2,633 shares of the semiconductor company’s stock worth $74,000 after acquiring an additional 2,333 shares in the last quarter. Q Fund Management Hong Kong Ltd grew its holdings in DAQO New Energy by 8.8% during the 3rd quarter. Q Fund Management Hong Kong Ltd now owns 40,000 shares of the semiconductor company’s stock worth $1,125,000 after acquiring an additional 3,224 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of DAQO New Energy by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,738,788 shares of the semiconductor company’s stock valued at $48,912,000 after purchasing an additional 5,448 shares during the last quarter. 47.22% of the stock is owned by institutional investors and hedge funds.

DAQO New Energy Stock Down 0.5%

DQ traded down $0.11 on Friday, reaching $23.36. The company’s stock had a trading volume of 67,103 shares, compared to its average volume of 733,681. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -9.19 and a beta of 0.68. DAQO New Energy Corp. has a fifty-two week low of $12.40 and a fifty-two week high of $36.59. The stock has a 50 day moving average of $25.03 and a two-hundred day moving average of $27.87.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DQ shares. Weiss Ratings restated 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 cut DAQO New Energy from a “buy” rating to a “sell” rating and cut their price target for the company from $30.51 to $18.13 in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, DAQO New Energy currently has an average rating of “Hold” and an average price target 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.