Oasis Management Co Ltd. Purchases Shares of 37,800 DAQO New Energy Corp. $DQ

Oasis Management Co Ltd. purchased a new position in DAQO New Energy Corp. (NYSE:DQ) in the third quarter, HoldingsChannel reports. The firm purchased 37,800 shares of the semiconductor company’s stock, valued at approximately $1,063,000.

Several other institutional investors and hedge funds have also recently modified their holdings of DQ. Harvest Fund Management Co. Ltd bought a new position in DAQO New Energy in the 3rd quarter worth $7,096,000. Newbridge Financial Services Group Inc. raised its holdings in DAQO New Energy by 3,589.7% during the third quarter. Newbridge Financial Services Group Inc. now owns 16,530 shares of the semiconductor company’s stock valued at $465,000 after acquiring an additional 16,082 shares during the period. Continental General Insurance Co. lifted its position 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 valued at $186,839,000 after acquiring an additional 675,784 shares in the last quarter. Vise Technologies Inc. purchased a new position in shares of DAQO New Energy in the third quarter valued at about $225,000. Finally, Wolf Hill Capital Management LP bought a new position in shares of DAQO New Energy in the third quarter worth about $11,623,000. 47.22% of the stock is currently owned by institutional investors.

DAQO New Energy Stock Down 1.7%

Shares of DQ stock opened at $23.08 on Friday. The company’s fifty day simple moving average is $24.90 and its two-hundred day simple moving average is $27.87. DAQO New Energy Corp. has a 52 week low of $12.40 and a 52 week high of $36.59. The stock has a market cap of $1.55 billion, a P/E ratio of -9.09 and a beta of 0.68.

DAQO New Energy (NYSE:DQ) last issued 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). DAQO New Energy had a negative net margin of 25.62% and a negative return on equity of 2.92%. The firm had revenue of $221.71 million for the quarter, compared to analysts’ expectations of $276.94 million. On average, analysts anticipate that DAQO New Energy Corp. will post -3.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on DQ shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of DAQO New Energy in a research report on Monday, December 29th. Glj Research cut DAQO New Energy from a “buy” rating to a “sell” rating and lowered their price target for the stock from $30.51 to $18.13 in a report on Tuesday, February 3rd. Finally, New Street Research set a $18.13 price target on DAQO New Energy in a research note 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.43.

About DAQO New Energy

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.