Daqo New Energy Corp. (NYSE:DQ) Stock Position Lessened by Van ECK Associates Corp

Van ECK Associates Corp reduced its stake in shares of Daqo New Energy Corp. (NYSE:DQ – Get Rating) by 68.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,114 shares of the semiconductor company’s stock after selling 53,760 shares during the quarter. Van ECK Associates Corp’s holdings in Daqo New Energy were worth $969,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Daqo New Energy by 137.6% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 34,476 shares of the semiconductor company’s stock worth $1,483,000 after buying an additional 19,965 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Daqo New Energy by 67.8% during the first quarter. JPMorgan Chase & Co. now owns 161,748 shares of the semiconductor company’s stock worth $6,684,000 after acquiring an additional 65,361 shares during the period. American Century Companies Inc. raised its position in Daqo New Energy by 8.0% in the first quarter. American Century Companies Inc. now owns 33,487 shares of the semiconductor company’s stock worth $1,384,000 after acquiring an additional 2,490 shares in the last quarter. US Bancorp DE boosted its position in shares of Daqo New Energy by 89.0% during the 1st quarter. US Bancorp DE now owns 1,981 shares of the semiconductor company’s stock valued at $82,000 after purchasing an additional 933 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new position in shares of Daqo New Energy in the 1st quarter worth approximately $324,000.

Wall Street Analyst Weigh In

Several analysts recently commented on DQ shares. Daiwa Capital Markets raised shares of Daqo New Energy from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 4th. StockNews.com began coverage on Daqo New Energy in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, HSBC increased their price target on Daqo New Energy from $44.60 to $45.60 in a research report on Monday, May 1st.

Daqo New Energy Stock Down 1.1 %

Shares of NYSE:DQ opened at $42.78 on Monday. The company’s fifty day moving average is $46.51 and its two-hundred day moving average is $46.35. The company has a market cap of $3.19 billion, a P/E ratio of 2.08 and a beta of 0.51. Daqo New Energy Corp. has a 12-month low of $36.91 and a 12-month high of $77.18.

Daqo New Energy (NYSE:DQ – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The semiconductor company reported $4.71 earnings per share (EPS) for the quarter. The firm had revenue of $864.25 million during the quarter, compared to the consensus estimate of $1.13 billion. Daqo New Energy had a return on equity of 25.68% and a net margin of 39.70%. Equities research analysts anticipate that Daqo New Energy Corp. will post 17.65 earnings per share for the current year.

Daqo New Energy Company Profile

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Daqo New Energy Corp. is a holding company, which engages in the provision of polysilicon products. It involves in the manufacture and sale of polysilicon to photovoltaic product manufactures, who further process the polysilicon into ingots, wafers, cells, and modules for solar power solutions. The company was founded by Guang Fu Xu on November 22, 2007 and is headquartered in Shanghai, China.