Jupiter Asset Management Ltd. Purchases New Stake in Daqo New Energy Corp. (NYSE:DQ)

Jupiter Asset Management Ltd. purchased a new stake in shares of Daqo New Energy Corp. (NYSE:DQ) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 342,700 shares of the semiconductor company’s stock, valued at approximately $9,647,000. Jupiter Asset Management Ltd. owned 0.52% of Daqo New Energy at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Franklin Resources Inc. raised its position in Daqo New Energy by 2.0% during the fourth quarter. Franklin Resources Inc. now owns 2,728,399 shares of the semiconductor company’s stock valued at $72,575,000 after buying an additional 53,860 shares during the period. Mackenzie Financial Corp grew its stake in Daqo New Energy by 23.8% in the fourth quarter. Mackenzie Financial Corp now owns 1,794,353 shares of the semiconductor company’s stock valued at $47,730,000 after purchasing an additional 344,616 shares in the last quarter. Ariose Capital Management Ltd grew its stake in Daqo New Energy by 19.1% in the first quarter. Ariose Capital Management Ltd now owns 952,924 shares of the semiconductor company’s stock valued at $26,825,000 after purchasing an additional 152,800 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Daqo New Energy by 142.1% in the first quarter. BNP Paribas Financial Markets now owns 696,865 shares of the semiconductor company’s stock valued at $19,617,000 after purchasing an additional 409,057 shares in the last quarter. Finally, FengHe Fund Management Pte. Ltd. purchased a new position in Daqo New Energy in the fourth quarter valued at about $11,480,000. 47.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on DQ shares. The Goldman Sachs Group started coverage on Daqo New Energy in a research note on Thursday, July 11th. They issued a “buy” rating on the stock. Roth Mkm restated a “neutral” rating and issued a $23.00 target price on shares of Daqo New Energy in a research note on Tuesday, April 30th. Finally, HSBC restated a “reduce” rating and issued a $17.50 target price (down previously from $23.50) on shares of Daqo New Energy in a research note on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Daqo New Energy currently has an average rating of “Hold” and an average target price of $27.63.

Daqo New Energy Stock Performance

Shares of DQ traded down $0.57 during trading hours on Friday, hitting $16.08. 619,530 shares of the company were exchanged, compared to its average volume of 863,834. The company has a market cap of $1.06 billion, a PE ratio of 7.55 and a beta of 0.28. The firm’s 50 day moving average is $18.40 and its 200-day moving average is $21.06. Daqo New Energy Corp. has a 52 week low of $14.21 and a 52 week high of $40.13.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.32). The company had revenue of $415.31 million for the quarter, compared to the consensus estimate of $491.90 million. Daqo New Energy had a return on equity of 2.46% and a net margin of 7.84%. During the same quarter last year, the company posted $3.52 EPS. As a group, equities analysts forecast that Daqo New Energy Corp. will post 0.46 earnings per share for the current fiscal year.

Daqo New Energy Company Profile

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.