Daqo New Energy Corp. (NYSE:DQ) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC cut its stake in Daqo New Energy Corp. (NYSE:DQ) by 16.8% in the fourth quarter, HoldingsChannel reports. The fund owned 22,874 shares of the semiconductor company’s stock after selling 4,630 shares during the period. Cresset Asset Management LLC’s holdings in Daqo New Energy were worth $445,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Daqo New Energy in the fourth quarter valued at approximately $52,000. Diametric Capital LP increased its position in shares of Daqo New Energy by 25.5% in the fourth quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company’s stock valued at $311,000 after buying an additional 3,255 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Daqo New Energy by 7.6% in the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock valued at $390,000 after buying an additional 1,410 shares in the last quarter. Polymer Capital Management HK LTD purchased a new stake in shares of Daqo New Energy in the fourth quarter valued at approximately $404,000. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Daqo New Energy by 37.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 45,788 shares of the semiconductor company’s stock valued at $890,000 after buying an additional 12,409 shares in the last quarter. 47.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DQ has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut Daqo New Energy from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a research report on Tuesday, April 15th. StockNews.com upgraded Daqo New Energy to a “sell” rating in a research report on Monday, April 21st. HSBC cut Daqo New Energy from a “buy” rating to a “hold” rating and set a $14.00 price target for the company. in a research report on Wednesday, April 30th. Finally, Hsbc Global Res cut Daqo New Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.01.

Daqo New Energy Stock Performance

NYSE DQ opened at $14.90 on Friday. The stock’s fifty day moving average is $15.65 and its two-hundred day moving average is $18.41. The firm has a market capitalization of $999.15 million, a P/E ratio of -8.05 and a beta of 0.58. Daqo New Energy Corp. has a fifty-two week low of $12.41 and a fifty-two week high of $30.85.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.05). The company had revenue of $123.91 million for the quarter, compared to analyst estimates of $176.81 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. As a group, sell-side analysts forecast that Daqo New Energy Corp. will post -3.5 EPS for the current year.

About Daqo New Energy

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.