Oaktree Capital Management LP Sells 53,932 Shares of Daqo New Energy Corp. (NYSE:DQ)

Oaktree Capital Management LP trimmed its position in shares of Daqo New Energy Corp. (NYSE:DQ) by 8.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 551,007 shares of the semiconductor company’s stock after selling 53,932 shares during the quarter. Oaktree Capital Management LP owned approximately 0.83% of Daqo New Energy worth $10,712,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DQ. Greenwoods Asset Management Hong Kong Ltd. boosted its stake in Daqo New Energy by 5,286.6% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company’s stock worth $52,775,000 after acquiring an additional 2,664,381 shares in the last quarter. Ariose Capital Management Ltd increased its position in Daqo New Energy by 27.5% during the 4th quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock valued at $29,271,000 after buying an additional 324,585 shares in the last quarter. Wexford Capital LP raised its stake in Daqo New Energy by 395.7% during the third quarter. Wexford Capital LP now owns 164,809 shares of the semiconductor company’s stock valued at $3,357,000 after buying an additional 131,564 shares during the last quarter. AI Squared Management Ltd bought a new stake in Daqo New Energy in the fourth quarter worth $1,499,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Daqo New Energy in the third quarter worth $1,053,000. Institutional investors own 47.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Daqo New Energy to a “sell” rating in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Daqo New Energy currently has a consensus rating of “Buy” and an average target price of $22.26.

Daqo New Energy Price Performance

Shares of NYSE:DQ opened at $18.56 on Friday. Daqo New Energy Corp. has a 1 year low of $13.62 and a 1 year high of $30.85. The stock’s fifty day moving average price is $19.56 and its 200-day moving average price is $19.74. The company has a market cap of $1.22 billion, a P/E ratio of -10.03 and a beta of 0.41.

Daqo New Energy (NYSE:DQ) last posted its earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($2.02). Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. The company had revenue of $195.36 million for the quarter, compared to the consensus estimate of $153.54 million. On average, sell-side analysts anticipate that Daqo New Energy Corp. will post -3.5 earnings per share for the current 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.