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

Oaktree Capital Management LP cut its holdings in Daqo New Energy Corp. (NYSE:DQ) by 8.9% during the 4th quarter, Holdings Channel reports. The fund owned 551,007 shares of the semiconductor company’s stock after selling 53,932 shares during the period. Oaktree Capital Management LP’s holdings in Daqo New Energy were worth $10,712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of DQ. Greenwoods Asset Management Hong Kong Ltd. increased its stake in shares of Daqo New Energy by 5,286.6% in the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company’s stock worth $52,775,000 after purchasing an additional 2,664,381 shares in the last quarter. Ariose Capital Management Ltd raised its stake in shares of Daqo New Energy by 27.5% in the fourth quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock worth $29,271,000 after buying an additional 324,585 shares during the period. Wexford Capital LP lifted its position in shares of Daqo New Energy by 395.7% during the 3rd 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 in the last quarter. AI Squared Management Ltd bought a new position in shares of Daqo New Energy during the 4th quarter valued at approximately $1,499,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Daqo New Energy in the 3rd quarter worth approximately $1,053,000. Hedge funds and other institutional investors own 47.22% of the company’s stock.

Analyst Ratings Changes

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

Daqo New Energy Stock Up 1.6 %

Shares of Daqo New Energy stock opened at $18.56 on Friday. Daqo New Energy Corp. has a twelve month low of $13.62 and a twelve month high of $30.85. The business has a 50-day moving average price of $19.56 and a 200-day moving average price of $19.74. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -10.03 and a beta of 0.41.

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