252,250 Shares in DAQO New Energy Corp. $DQ Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd acquired a new position in shares of DAQO New Energy Corp. (NYSE:DQ) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 252,250 shares of the semiconductor company’s stock, valued at approximately $7,096,000. Harvest Fund Management Co. Ltd owned about 0.38% of DAQO New Energy at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of DQ. Millennium Management LLC raised its stake in DAQO New Energy by 1,261.0% in the 1st quarter. Millennium Management LLC now owns 354,596 shares of the semiconductor company’s stock valued at $6,422,000 after acquiring an additional 328,541 shares during the period. Goldman Sachs Group Inc. lifted its holdings in 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 valued at $21,005,000 after purchasing an additional 625,900 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in DAQO New Energy by 34.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 174,912 shares of the semiconductor company’s stock worth $3,168,000 after purchasing an additional 44,780 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in DAQO New Energy by 39.1% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,364 shares of the semiconductor company’s stock worth $476,000 after purchasing an additional 8,815 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of DAQO New Energy by 13.4% in the second quarter. American Century Companies Inc. now owns 250,201 shares of the semiconductor company’s stock valued at $3,796,000 after purchasing an additional 29,578 shares during the last quarter. 47.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Glj Research cut shares of DAQO New Energy from a “buy” rating to a “sell” rating and cut their target price for the stock from $30.51 to $18.13 in a research note on Tuesday, February 3rd. New Street Research set a $18.13 price target on shares of DAQO New Energy in a research note on Tuesday, February 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of DAQO New Energy in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $25.43.

DAQO New Energy Price Performance

Shares of NYSE DQ opened at $23.08 on Friday. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -9.09 and a beta of 0.68. The stock’s fifty day moving average price is $24.90 and its two-hundred day moving average price is $27.87. DAQO New Energy Corp. has a one year low of $12.40 and a one year high of $36.59.

DAQO New Energy (NYSE:DQ) last posted its earnings results 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). The firm had revenue of $221.71 million for the quarter, compared to analyst estimates of $276.94 million. DAQO New Energy had a negative return on equity of 2.92% and a negative net margin of 25.62%. On average, equities analysts anticipate that DAQO New Energy Corp. will post -3.5 earnings per share for the current fiscal 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.