Swiss National Bank Lowers Stock Holdings in Daqo New Energy Corp. (NYSE:DQ)

Swiss National Bank lowered its holdings in shares of Daqo New Energy Corp. (NYSE:DQGet Rating) by 0.4% during the second quarter, HoldingsChannel.com reports. The firm owned 157,612 shares of the semiconductor company’s stock after selling 700 shares during the period. Swiss National Bank’s holdings in Daqo New Energy were worth $11,250,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DQ. Ariose Capital Management Ltd acquired a new stake in Daqo New Energy during the second quarter worth $32,564,000. Y Intercept Hong Kong Ltd purchased a new position in Daqo New Energy in the second quarter valued at $308,000. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Daqo New Energy by 17.0% in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 11,465 shares of the semiconductor company’s stock valued at $819,000 after purchasing an additional 1,663 shares during the period. abrdn plc lifted its holdings in Daqo New Energy by 12.7% during the 2nd quarter. abrdn plc now owns 14,697 shares of the semiconductor company’s stock worth $1,042,000 after buying an additional 1,657 shares during the last quarter. Finally, Aviva PLC lifted its holdings in Daqo New Energy by 12.3% during the 2nd quarter. Aviva PLC now owns 30,952 shares of the semiconductor company’s stock worth $2,209,000 after buying an additional 3,400 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. StockNews.com assumed coverage on Daqo New Energy in a report on Wednesday, October 12th. They set a “buy” rating for the company. Daiwa Capital Markets cut Daqo New Energy from an “outperform” rating to a “neutral” rating in a research report on Thursday, September 15th.

Daqo New Energy Stock Performance

DQ opened at $53.09 on Friday. The business’s 50-day simple moving average is $51.93 and its 200-day simple moving average is $57.50. Daqo New Energy Corp. has a one year low of $32.20 and a one year high of $77.18. The stock has a market capitalization of $3.96 billion, a P/E ratio of 2.49 and a beta of 0.31.

Daqo New Energy Profile

(Get Rating)

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufactures 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.

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Institutional Ownership by Quarter for Daqo New Energy (NYSE:DQ)

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