Polunin Capital Partners Ltd Acquires 174,747 Shares of DAQO New Energy Corp. $DQ
by Danessa Lincoln · The Markets DailyPolunin Capital Partners Ltd raised its holdings in shares of DAQO New Energy Corp. (NYSE:DQ – Free Report) by 13.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,458,705 shares of the semiconductor company’s stock after purchasing an additional 174,747 shares during the period. DAQO New Energy accounts for approximately 7.0% of Polunin Capital Partners Ltd’s investment portfolio, making the stock its 7th largest holding. Polunin Capital Partners Ltd’s holdings in DAQO New Energy were worth $43,032,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Continental General Insurance Co. lifted its holdings 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 purchasing an additional 675,784 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of DAQO New Energy in the third quarter valued at approximately $18,280,000. Goldman Sachs Group Inc. increased its stake in shares of DAQO New Energy by 117.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock worth $21,005,000 after purchasing an additional 625,900 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in shares of DAQO New Energy during the 3rd quarter worth approximately $11,673,000. Finally, Wolf Hill Capital Management LP acquired a new position in shares of DAQO New Energy during the 3rd quarter worth approximately $11,623,000. Institutional investors and hedge funds own 47.22% of the company’s stock.
DAQO New Energy Price Performance
Shares of NYSE DQ opened at $21.10 on Friday. The company has a 50-day simple moving average of $23.46 and a 200-day simple moving average of $27.40. The company has a market cap of $1.41 billion, a PE ratio of -8.31 and a beta of 0.80. DAQO New Energy Corp. has a 12 month low of $12.40 and a 12 month high of $36.59.
DAQO New Energy (NYSE:DQ – Get Free Report) last announced its quarterly earnings data on Monday, March 2nd. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate 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 year.
Wall Street Analyst Weigh In
DQ has been the topic of a number of recent research reports. Glj Research lowered DAQO New Energy from a “buy” rating to a “sell” rating and reduced their target price for the company from $30.51 to $18.13 in a research note on Tuesday, February 3rd. New Street Research set a $18.13 price target on DAQO New Energy in a report on Tuesday, February 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of DAQO New Energy in a research report on Friday, March 27th. One equities research 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 given a Sell rating to the company’s stock. According to data from MarketBeat, DAQO New Energy presently has an average rating of “Hold” and an average price target of $25.43.
View Our Latest Research Report on DQ
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.
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