Granite Point Capital Management L.P. purchased a new stake in Daqo New Energy Corp (NYSE:DQ) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,000 shares of the semiconductor company’s stock, valued at approximately $234,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Morgan Stanley boosted its holdings in shares of Daqo New Energy by 65.2% in the third quarter. Morgan Stanley now owns 498,156 shares of the semiconductor company’s stock valued at $13,006,000 after buying an additional 196,663 shares during the period. Sensato Investors LLC acquired a new position in Daqo New Energy during the third quarter worth $9,528,000. BlackRock Inc. boosted its holdings in Daqo New Energy by 3.0% during the third quarter. BlackRock Inc. now owns 72,226 shares of the semiconductor company’s stock worth $1,886,000 after purchasing an additional 2,082 shares during the last quarter. Guinness Asset Management Ltd boosted its holdings in Daqo New Energy by 87.3% during the third quarter. Guinness Asset Management Ltd now owns 14,800 shares of the semiconductor company’s stock worth $386,000 after purchasing an additional 6,900 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in Daqo New Energy during the third quarter worth $326,000. Institutional investors own 37.66% of the company’s stock.

NYSE DQ opened at $32.40 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.15 and a current ratio of 1.26. Daqo New Energy Corp has a 1 year low of $20.35 and a 1 year high of $71.50. The firm has a market cap of $339.83 million, a price-to-earnings ratio of 3.81, a PEG ratio of 0.28 and a beta of 2.12.

Daqo New Energy (NYSE:DQ) last posted its quarterly earnings results on Tuesday, November 13th. The semiconductor company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.36) by $1.68. Daqo New Energy had a net margin of 17.71% and a return on equity of 17.53%. The firm had revenue of $67.40 million for the quarter, compared to analyst estimates of $74.50 million. During the same period in the prior year, the firm posted $2.35 earnings per share. The company’s quarterly revenue was down 7.5% compared to the same quarter last year. Equities research analysts anticipate that Daqo New Energy Corp will post 4.02 EPS for the current year.

Several research analysts recently commented on DQ shares. TheStreet cut shares of Daqo New Energy from a “b-” rating to a “c+” rating in a report on Wednesday, October 24th. Zacks Investment Research upgraded shares of Daqo New Energy from a “strong sell” rating to a “hold” rating in a report on Friday, November 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $45.00.

ILLEGAL ACTIVITY WARNING: “Granite Point Capital Management L.P. Purchases Shares of 10,000 Daqo New Energy Corp (DQ)” was posted by Watch List News and is the property of of Watch List News. If you are reading this story on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The original version of this story can be viewed at https://www.watchlistnews.com/granite-point-capital-management-l-p-purchases-shares-of-10000-daqo-new-energy-corp-dq/2813107.html.

Daqo New Energy Profile

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon and wafers in the People's Republic of China. It operates through two segments, Polysilicon and Wafers. The company offers polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.

Read More: Reverse Stock Split

Want to see what other hedge funds are holding DQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Daqo New Energy Corp (NYSE:DQ).

Institutional Ownership by Quarter for Daqo New Energy (NYSE:DQ)

Receive News & Ratings for Daqo New Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Daqo New Energy and related companies with MarketBeat.com's FREE daily email newsletter.