DekaBank Deutsche Girozentrale Trims Stake in Daqo New Energy Corp. (NYSE:DQ)

DekaBank Deutsche Girozentrale cut its holdings in Daqo New Energy Corp. (NYSE:DQ) by 67.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 institutional investors and hedge funds have also made changes to their positions in the business. U S Global Investors Inc. purchased a new stake in shares of Daqo New Energy in the fourth quarter valued at approximately $399,000. FengHe Fund Management Pte. Ltd. purchased a new stake in shares of Daqo New Energy in the fourth quarter valued at approximately $11,480,000. SG Americas Securities LLC boosted its stake in shares of Daqo New Energy by 12.2% in the fourth quarter. SG Americas Securities LLC now owns 80,987 shares of the semiconductor company’s stock worth $2,154,000 after acquiring an additional 8,775 shares during the last quarter. Green Alpha Advisors LLC acquired a new stake in shares of Daqo New Energy in the fourth quarter worth approximately $607,000. Finally, American Century Companies Inc. boosted its stake in shares of Daqo New Energy by 45.8% in the third quarter. American Century Companies Inc. now owns 137,788 shares of the semiconductor company’s stock worth $4,171,000 after acquiring an additional 43,258 shares during the last quarter. 47.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Daiwa Capital Markets reaffirmed an “underperform” rating and issued a $25.00 price target on shares of Daqo New Energy in a research note 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $36.23.

Daqo New Energy Price Performance

Shares of NYSE:DQ opened at $22.39 on Thursday. The business’s 50 day moving average price is $24.01 and its 200-day moving average price is $24.12. The firm has a market capitalization of $1.47 billion, a PE ratio of 4.14 and a beta of 0.22. Daqo New Energy Corp. has a 1 year low of $17.30 and a 1 year high of $48.31.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings data on Wednesday, February 28th. The semiconductor company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.20). The company had revenue of $477.13 million for the quarter, compared to analyst estimates of $529.40 million. Daqo New Energy had a return on equity of 6.42% and a net margin of 18.24%. During the same period last year, the firm posted $4.71 EPS. As a group, analysts expect that Daqo New Energy Corp. will post 4.06 earnings per share for the current year.

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.