Hel Ved Capital Management Ltd Buys New Stake in DAQO New Energy Corp. $DQ

Hel Ved Capital Management Ltd purchased a new position in shares of DAQO New Energy Corp. (NYSE:DQ) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 186,547 shares of the semiconductor company’s stock, valued at approximately $5,248,000. DAQO New Energy makes up about 1.1% of Hel Ved Capital Management Ltd’s holdings, making the stock its 20th largest holding. Hel Ved Capital Management Ltd owned 0.28% of DAQO New Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DQ. Mackenzie Financial Corp raised its position in shares of DAQO New Energy by 1.4% in the second quarter. Mackenzie Financial Corp now owns 1,866,454 shares of the semiconductor company’s stock worth $28,314,000 after acquiring an additional 26,100 shares during the period. Vanguard Group Inc. grew its position in shares of DAQO New Energy by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,738,788 shares of the semiconductor company’s stock valued at $48,912,000 after acquiring an additional 5,448 shares during the period. Polunin Capital Partners Ltd acquired a new stake in shares of DAQO New Energy during the 3rd quarter valued at about $37,183,000. Goldman Sachs Group Inc. increased its stake in shares of DAQO New Energy by 117.2% in 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 in the last quarter. Finally, FengHe Fund Management Pte. Ltd. increased its stake in shares of DAQO New Energy by 62.4% in the 3rd quarter. FengHe Fund Management Pte. Ltd. now owns 469,833 shares of the semiconductor company’s stock valued at $13,216,000 after purchasing an additional 180,457 shares in the last quarter. Institutional investors and hedge funds own 47.22% of the company’s stock.

DAQO New Energy Stock Down 2.2%

DQ stock opened at $22.09 on Friday. DAQO New Energy Corp. has a 52 week low of $12.40 and a 52 week high of $36.59. The firm has a 50-day simple moving average of $25.56 and a 200-day simple moving average of $27.86. The stock has a market capitalization of $1.48 billion, a P/E ratio of -8.70 and a beta of 0.68.

DAQO New Energy (NYSE:DQ) last issued its quarterly 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). DAQO New Energy had a negative net margin of 25.62% and a negative return on equity of 2.92%. The company had revenue of $221.71 million during the quarter, compared to analysts’ expectations of $276.94 million. On average, analysts expect that DAQO New Energy Corp. will post -3.5 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.