41,600 Shares in DAQO New Energy Corp. $DQ Acquired by BlueCrest Capital Management Ltd

BlueCrest Capital Management Ltd acquired a new stake in shares of DAQO New Energy Corp. (NYSE:DQ) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 41,600 shares of the semiconductor company’s stock, valued at approximately $1,170,000.

Other hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of DAQO New Energy during the second quarter worth $29,000. Pinpoint Asset Management Singapore Pte. Ltd. lifted its stake in DAQO New Energy by 777.7% in the 3rd quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 2,633 shares of the semiconductor company’s stock worth $74,000 after purchasing an additional 2,333 shares in the last quarter. Brooklyn Investment Group boosted its holdings in shares of DAQO New Energy by 17,302.3% during the 3rd quarter. Brooklyn Investment Group now owns 7,657 shares of the semiconductor company’s stock valued at $215,000 after purchasing an additional 7,613 shares during the last quarter. Vise Technologies Inc. bought a new position in shares of DAQO New Energy during the 3rd quarter valued at about $225,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of DAQO New Energy during the third quarter valued at about $231,000. Hedge funds and other institutional investors own 47.22% of the company’s stock.

Wall Street Analysts Forecast Growth

DQ has been the topic of several research reports. Glj Research cut 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 report on Tuesday, February 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of DAQO New Energy in a report on Monday, December 29th. Finally, New Street Research set a $18.13 price objective on DAQO New Energy in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.43.

DAQO New Energy Stock Down 1.7%

Shares of NYSE:DQ opened at $23.08 on Friday. The firm has a fifty day simple moving average of $24.90 and a two-hundred day simple moving average of $27.90. 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 capitalization of $1.55 billion, a P/E ratio of -9.09 and a beta of 0.68.

DAQO New Energy (NYSE:DQ) last announced its quarterly 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). The business had revenue of $221.71 million during the quarter, compared to the consensus estimate of $276.94 million. DAQO New Energy had a negative net margin of 25.62% and a negative return on equity of 2.92%. On average, analysts expect that DAQO New Energy Corp. will post -3.5 earnings per share for the current year.

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.