Dynamic Technology Lab Private Ltd Takes $210,000 Position in DAQO New Energy Corp. (DQ)

Dynamic Technology Lab Private Ltd bought a new stake in shares of DAQO New Energy Corp. (NYSE:DQ) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,142 shares of the semiconductor company’s stock, valued at approximately $210,000. Dynamic Technology Lab Private Ltd owned approximately 0.10% of DAQO New Energy Corp. at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Morgan Stanley raised its position in shares of DAQO New Energy Corp. by 243.5% in the 1st quarter. Morgan Stanley now owns 100,534 shares of the semiconductor company’s stock worth $1,888,000 after purchasing an additional 71,264 shares during the last quarter. Quentec Asset Management LLC raised its position in shares of DAQO New Energy Corp. by 5.0% in the 2nd quarter. Quentec Asset Management LLC now owns 977,106 shares of the semiconductor company’s stock worth $20,285,000 after purchasing an additional 46,888 shares during the last quarter. Dymon Asia Capital Ltd. purchased a new position in shares of DAQO New Energy Corp. in the 2nd quarter worth about $2,886,000. KCG Holdings Inc. purchased a new position in shares of DAQO New Energy Corp. in the 1st quarter worth about $377,000. Finally, Acadian Asset Management LLC raised its position in shares of DAQO New Energy Corp. by 11.1% in the 2nd quarter. Acadian Asset Management LLC now owns 179,664 shares of the semiconductor company’s stock worth $3,729,000 after purchasing an additional 17,881 shares during the last quarter. Hedge funds and other institutional investors own 28.38% of the company’s stock.

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DAQO New Energy Corp. (NYSE:DQ) last issued its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.19). DAQO New Energy Corp. had a net margin of 19.35% and a return on equity of 18.90%. The company had revenue of $76.00 million for the quarter, compared to the consensus estimate of $71.80 million. During the same period in the previous year, the business earned $1.87 EPS.

DQ has been the subject of several recent analyst reports. Zacks Investment Research raised DAQO New Energy Corp. from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Thursday, September 14th. Roth Capital set a $35.00 price target on DAQO New Energy Corp. and gave the stock a “buy” rating in a research report on Sunday, August 20th. Finally, BidaskClub raised DAQO New Energy Corp. from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $37.67.

DAQO New Energy Corp. Profile

Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company’s segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions.

Institutional Ownership by Quarter for DAQO New Energy Corp. (NYSE:DQ)

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