Harel Insurance Investments & Financial Services Ltd. Has $29,000 Stake in Daqo New Energy Corp. (NYSE:DQ)

Harel Insurance Investments & Financial Services Ltd. cut its position in Daqo New Energy Corp. (NYSE:DQ) by 43.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,514 shares of the semiconductor company’s stock after selling 1,180 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Daqo New Energy were worth $29,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new stake in Daqo New Energy during the 2nd quarter worth approximately $11,080,000. Sylebra Capital LLC raised its position in Daqo New Energy by 103.9% in the 2nd quarter. Sylebra Capital LLC now owns 943,692 shares of the semiconductor company’s stock valued at $13,778,000 after buying an additional 480,980 shares during the last quarter. Ariose Capital Management Ltd lifted its stake 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 acquiring an additional 324,585 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Daqo New Energy by 112.3% in the 2nd quarter. Marshall Wace LLP now owns 322,635 shares of the semiconductor company’s stock worth $4,710,000 after acquiring an additional 170,660 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Daqo New Energy by 6.4% in the second quarter. Mackenzie Financial Corp now owns 2,496,997 shares of the semiconductor company’s stock valued at $36,456,000 after purchasing an additional 149,610 shares during the last quarter. 47.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Daiwa America raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. HSBC raised Daqo New Energy from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Hsbc Global Res upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Daiwa Capital Markets upgraded Daqo New Energy from a “neutral” rating to an “outperform” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $22.26.

Daqo New Energy Price Performance

Shares of NYSE:DQ opened at $18.09 on Monday. The company’s fifty day moving average price is $19.18 and its 200-day moving average price is $18.57. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -9.78 and a beta of 0.26. Daqo New Energy Corp. has a one year low of $13.62 and a one year high of $30.85.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. The firm had revenue of $198.50 million for the quarter, compared to analysts’ expectations of $186.90 million. During the same quarter in the previous year, the business earned ($0.09) EPS. As a group, equities research analysts expect that Daqo New Energy Corp. will post -3.5 EPS for the current year.

Daqo New Energy 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.