Mirae Asset Global Investments Co. Ltd. Lowers Stock Position in Daqo New Energy Corp. (NYSE:DQ)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Daqo New Energy Corp. (NYSE:DQ) by 9.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 108,715 shares of the semiconductor company’s stock after selling 11,912 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Daqo New Energy were worth $2,892,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in DQ. Toroso Investments LLC bought a new stake in Daqo New Energy in the 3rd quarter worth approximately $35,000. US Bancorp DE increased 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 during the last quarter. Seaport Global Advisors LLC increased its position in shares of Daqo New Energy by 20.1% during the 4th quarter. Seaport Global Advisors LLC now owns 2,781 shares of the semiconductor company’s stock valued at $107,000 after purchasing an additional 465 shares during the last quarter. Atlas Capital Advisors LLC bought a new position in shares of Daqo New Energy during the 2nd quarter valued at approximately $145,000. Finally, Ensign Peak Advisors Inc increased its position in shares of Daqo New Energy by 6.3% during the 1st quarter. Ensign Peak Advisors Inc now owns 4,250 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 250 shares during the last quarter. 47.22% of the stock is owned by hedge funds and other institutional investors.

Daqo New Energy Trading Down 4.2 %

Shares of DQ stock opened at $22.39 on Thursday. Daqo New Energy Corp. has a twelve month low of $17.30 and a twelve month high of $48.31. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 4.14 and a beta of 0.22. The stock has a fifty day simple moving average of $24.01 and a two-hundred day simple moving average of $24.12.

Daqo New Energy (NYSE:DQ) last issued its earnings results on Wednesday, February 28th. The semiconductor company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.20). Daqo New Energy had a return on equity of 6.42% and a net margin of 18.24%. The firm had revenue of $477.13 million during the quarter, compared to analysts’ expectations of $529.40 million. During the same quarter in the prior year, the company posted $4.71 earnings per share. Research analysts predict that Daqo New Energy Corp. will post 4.06 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Daiwa Capital Markets reissued an “underperform” rating and set a $25.00 target price on shares of Daqo New Energy in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $36.23.

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.