1,283,958 Shares in DAQO New Energy Corp. $DQ Purchased by Polunin Capital Partners Ltd

Polunin Capital Partners Ltd bought a new position in DAQO New Energy Corp. (NYSE:DQ) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,283,958 shares of the semiconductor company’s stock, valued at approximately $37,183,000. DAQO New Energy comprises approximately 5.5% of Polunin Capital Partners Ltd’s portfolio, making the stock its 7th biggest holding.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in DAQO New Energy by 1.5% during the first quarter. Vanguard Group Inc. now owns 1,745,544 shares of the semiconductor company’s stock valued at $31,612,000 after purchasing an additional 26,359 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of DAQO New Energy by 227.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 162,085 shares of the semiconductor company’s stock worth $2,935,000 after acquiring an additional 112,562 shares during the last quarter. Nuveen LLC bought a new stake in shares of DAQO New Energy during the 1st quarter worth $837,000. Russell Investments Group Ltd. grew its position in DAQO New Energy by 39.2% in the first quarter. Russell Investments Group Ltd. now owns 411,345 shares of the semiconductor company’s stock worth $7,450,000 after acquiring an additional 115,831 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in DAQO New Energy by 86,700.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,736 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 1,734 shares in the last quarter. Institutional investors own 47.22% of the company’s stock.

DAQO New Energy Stock Up 0.2%

Shares of DAQO New Energy stock opened at $32.13 on Wednesday. The firm has a market cap of $2.15 billion, a PE ratio of -6.25 and a beta of 0.66. The company’s fifty day simple moving average is $30.51 and its two-hundred day simple moving average is $24.73. 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) last posted its earnings results on Monday, October 27th. The semiconductor company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.39. The company had revenue of $244.60 million for the quarter, compared to analysts’ expectations of $176.78 million. DAQO New Energy had a negative return on equity of 5.89% and a negative net margin of 53.74%. As a group, sell-side analysts expect that DAQO New Energy Corp. will post -3.5 earnings per share for the current fiscal year.

DAQO New Energy declared that its Board of Directors has initiated a share buyback plan on Tuesday, August 26th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

DQ has been the subject of several research analyst reports. Glj Research reaffirmed a “buy” rating and set a $30.51 price target on shares of DAQO New Energy in a research note on Tuesday, August 26th. Citigroup boosted their price objective on shares of DAQO New Energy from $27.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, September 8th. New Street Research set a $15.40 price objective on shares of DAQO New Energy in a research note on Thursday, September 18th. HSBC upgraded shares of DAQO New Energy from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Wednesday, August 27th. Finally, The Goldman Sachs Group set a $18.30 price objective on DAQO New Energy and gave the company a “neutral” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.04.

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.