Advisors Asset Management Inc. lessened its stake in shares of Daqo New Energy Corp. (NYSE:DQ – Get Rating) by 5.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,095 shares of the semiconductor company’s stock after selling 415 shares during the quarter. Advisors Asset Management Inc.’s holdings in Daqo New Energy were worth $506,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of DQ. Causeway Capital Management LLC lifted its position in shares of Daqo New Energy by 175.5% during the 1st quarter. Causeway Capital Management LLC now owns 475,126 shares of the semiconductor company’s stock worth $19,632,000 after buying an additional 302,643 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Daqo New Energy in the 1st quarter valued at $9,801,000. Los Angeles Capital Management LLC raised its position in Daqo New Energy by 146.4% in the 1st quarter. Los Angeles Capital Management LLC now owns 235,425 shares of the semiconductor company’s stock valued at $9,728,000 after purchasing an additional 139,895 shares during the last quarter. Jupiter Asset Management Ltd. raised its position in Daqo New Energy by 69.7% in the 1st quarter. Jupiter Asset Management Ltd. now owns 316,679 shares of the semiconductor company’s stock valued at $13,069,000 after purchasing an additional 130,045 shares during the last quarter. Finally, Oslo Asset Management AS bought a new position in Daqo New Energy in the 1st quarter valued at $5,082,000.
Daqo New Energy Stock Down 4.6 %
DQ stock opened at $53.09 on Friday. Daqo New Energy Corp. has a twelve month low of $32.20 and a twelve month high of $77.18. The business has a fifty day moving average of $51.93 and a 200-day moving average of $57.40. The company has a market cap of $3.96 billion, a P/E ratio of 2.49 and a beta of 0.31.
Analyst Ratings Changes
Daqo New Energy Profile
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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