Cygnus Capital Advisors LLC Takes Position in DAQO New Energy Corp. $DQ

Cygnus Capital Advisors LLC purchased a new stake in DAQO New Energy Corp. (NYSE:DQ) in the 2nd quarter, HoldingsChannel reports. The firm purchased 54,100 shares of the semiconductor company’s stock, valued at approximately $724,000.

A number of other large investors also recently bought and sold shares of the business. Quarry LP purchased a new position in DAQO New Energy during the third quarter worth approximately $26,000. Nykredit A S purchased a new stake in shares of DAQO New Energy in the second quarter valued at approximately $28,000. Headlands Technologies LLC acquired a new position in shares of DAQO New Energy during the 2nd quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of DAQO New Energy during the 4th quarter valued at approximately $49,000. Finally, Banque Cantonale Vaudoise grew its stake in DAQO New Energy by 37.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 2,579 shares of the semiconductor company’s stock valued at $55,000 after acquiring an additional 703 shares during the period. Institutional investors and hedge funds own 47.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on DQ shares. JPMorgan Chase & Co. reduced their price objective on shares of DAQO New Energy from $35.50 to $22.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Zacks Research cut shares of DAQO New Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. New Street Research set a $10.00 price target on shares of DAQO New Energy in a research report on Monday, August 24th. Weiss Ratings lowered shares of DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 28th. Finally, The Goldman Sachs Group cut DAQO New Energy from a “neutral” rating to a “sell” rating and set a $10.00 price objective on the stock. in a report on Monday, August 24th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $15.83.

DAQO New Energy Stock Performance

NYSE:DQ opened at $12.31 on Tuesday. DAQO New Energy Corp. has a one year low of $11.38 and a one year high of $36.59. The stock has a market cap of $833.02 million, a PE ratio of -4.33 and a beta of 0.67. The stock has a 50 day moving average price of $13.00 and a 200 day moving average price of $17.33.

DAQO New Energy (NYSE:DQ) last released its quarterly earnings data on Thursday, August 20th. The semiconductor company reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.63). The company had revenue of $62.66 million for the quarter, compared to analyst estimates of $52.93 million. DAQO New Energy had a negative return on equity of 3.26% and a negative net margin of 34.50%. As a group, analysts predict that DAQO New Energy Corp. will post -1.96 earnings per share for the current fiscal year.

DAQO New Energy Company Profile

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.