Banque Cantonale Vaudoise Sells 1,800 Shares of Daqo New Energy Corp. (NYSE:DQ)

Banque Cantonale Vaudoise decreased its stake in shares of Daqo New Energy Corp. (NYSE:DQ) by 56.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,364 shares of the semiconductor company’s stock after selling 1,800 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Daqo New Energy were worth $28,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DQ. Signaturefd LLC increased its stake in Daqo New Energy by 27.3% in the 3rd quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 602 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Daqo New Energy by 4.3% in the third quarter. Van ECK Associates Corp now owns 18,657 shares of the semiconductor company’s stock valued at $415,000 after purchasing an additional 764 shares in the last quarter. Rhumbline Advisers increased its position in Daqo New Energy by 22.2% in the second quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock worth $118,000 after purchasing an additional 1,470 shares during the last quarter. Shell Asset Management Co. raised its stake in Daqo New Energy by 20.6% during the first quarter. Shell Asset Management Co. now owns 10,734 shares of the semiconductor company’s stock valued at $302,000 after purchasing an additional 1,834 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Daqo New Energy by 12,187.5% during the second quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 1,950 shares during the last quarter. 47.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DQ. StockNews.com upgraded shares of Daqo New Energy to a “sell” rating in a report on Monday, September 23rd. Jefferies Financial Group decreased their price objective on Daqo New Energy from $38.40 to $34.05 and set a “buy” rating on the stock in a research report on Monday, August 26th. Daiwa America raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Roth Mkm decreased their price target on Daqo New Energy from $23.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, August 28th. Finally, HSBC raised shares of Daqo New Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Daqo New Energy has an average rating of “Buy” and a consensus target price of $22.26.

Daqo New Energy Stock Down 2.1 %

Shares of Daqo New Energy stock opened at $18.80 on Friday. The stock’s fifty day moving average is $20.49 and its two-hundred day moving average is $18.41. Daqo New Energy Corp. has a 52 week low of $13.62 and a 52 week high of $30.85. The company has a market capitalization of $1.24 billion, a PE ratio of -10.16 and a beta of 0.32.

Daqo New Energy (NYSE:DQ) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). The company had revenue of $198.50 million for the quarter, compared to the consensus estimate of $186.90 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. During the same quarter in the previous year, the business earned ($0.09) EPS. As a group, research analysts anticipate that Daqo New Energy Corp. will post -3.5 earnings per share for the current year.

Daqo New Energy Company Profile

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.