DekaBank Deutsche Girozentrale trimmed its holdings in Daqo New Energy Corp. (NYSE:DQ – Free Report) by 67.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,442 shares of the semiconductor company’s stock after selling 5,153 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Daqo New Energy were worth $64,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of DQ. Bank of America Corp DE boosted its position in shares of Daqo New Energy by 1,305.7% during the 1st quarter. Bank of America Corp DE now owns 1,981,937 shares of the semiconductor company’s stock valued at $92,834,000 after acquiring an additional 1,840,945 shares during the last quarter. Morgan Stanley boosted its position in shares of Daqo New Energy by 189.4% during the 4th quarter. Morgan Stanley now owns 1,839,118 shares of the semiconductor company’s stock valued at $71,008,000 after acquiring an additional 1,203,536 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Daqo New Energy by 2,930.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 985,296 shares of the semiconductor company’s stock valued at $1,673,000 after acquiring an additional 952,786 shares during the last quarter. Ariose Capital Management Ltd raised its holdings in Daqo New Energy by 324.8% during the 3rd quarter. Ariose Capital Management Ltd now owns 800,124 shares of the semiconductor company’s stock valued at $24,220,000 after buying an additional 611,755 shares during the period. Finally, Zimmer Partners LP purchased a new stake in Daqo New Energy during the 2nd quarter valued at $23,569,000. 47.22% of the stock is currently owned by institutional investors.
Daqo New Energy Stock Performance
NYSE:DQ opened at $22.39 on Thursday. The stock’s fifty day moving average is $24.01 and its 200 day moving average is $24.12. Daqo New Energy Corp. has a fifty-two week low of $17.30 and a fifty-two week high of $48.31. The firm has a market capitalization of $1.47 billion, a PE ratio of 4.14 and a beta of 0.22.
Wall Street Analysts Forecast Growth
Separately, Daiwa Capital Markets restated an “underperform” rating and set a $25.00 price target on shares of Daqo New Energy in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $36.23.
Read Our Latest Research Report on Daqo New Energy
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.
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