BlueCrest Capital Management Ltd Makes New Investment in DAQO New Energy Corp. $DQ

BlueCrest Capital Management Ltd purchased a new position in shares of DAQO New Energy Corp. (NYSE:DQ) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 41,600 shares of the semiconductor company’s stock, valued at approximately $1,170,000.

Several other institutional investors have also recently made changes to their positions in DQ. Continental General Insurance Co. raised its holdings in shares of DAQO New Energy by 11.3% in the third quarter. Continental General Insurance Co. now owns 6,641,986 shares of the semiconductor company’s stock valued at $186,839,000 after acquiring an additional 675,784 shares in the last quarter. Mackenzie Financial Corp grew its holdings in DAQO New Energy by 1.4% during the 2nd 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 in the last quarter. Vanguard Group Inc. grew its holdings in 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 worth $48,912,000 after acquiring an additional 5,448 shares in the last quarter. Polunin Capital Partners Ltd purchased a new position in DAQO New Energy during the 3rd quarter valued at about $37,183,000. Finally, Goldman Sachs Group Inc. increased its position in DAQO New Energy by 117.2% during 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 during the period. Hedge funds and other institutional investors own 47.22% of the company’s stock.

DAQO New Energy Price Performance

Shares of DQ stock opened at $23.44 on Wednesday. The stock’s 50-day moving average is $24.65 and its 200 day moving average is $27.92. DAQO New Energy Corp. has a 1-year low of $12.40 and a 1-year high of $36.59. The company has a market cap of $1.57 billion, a P/E ratio of -9.23 and a beta of 0.68.

DAQO New Energy (NYSE:DQ) last announced its earnings results on Thursday, February 26th. The semiconductor company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). The firm had revenue of $221.71 million during the quarter, compared to the consensus estimate of $276.94 million. DAQO New Energy had a negative return on equity of 2.92% and a negative net margin of 25.62%. On average, analysts anticipate that DAQO New Energy Corp. will post -3.5 EPS for the current year.

Wall Street Analysts Forecast Growth

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