Daqo New Energy Corp. (NYSE:DQ) Shares Purchased by Northern Trust Corp

Northern Trust Corp raised its position in Daqo New Energy Corp. (NYSE:DQ) by 27.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 119,786 shares of the semiconductor company’s stock after acquiring an additional 25,647 shares during the quarter. Northern Trust Corp owned approximately 0.18% of Daqo New Energy worth $2,329,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Arosa Capital Management LP purchased a new position in Daqo New Energy in the fourth quarter worth approximately $2,916,000. Susquehanna Fundamental Investments LLC purchased a new position in Daqo New Energy in the fourth quarter worth approximately $1,187,000. Symmetry Investments LP purchased a new position in Daqo New Energy in the fourth quarter worth approximately $1,040,000. Hsbc Holdings PLC lifted its stake in Daqo New Energy by 381.6% in the fourth quarter. Hsbc Holdings PLC now owns 81,576 shares of the semiconductor company’s stock worth $1,586,000 after acquiring an additional 64,639 shares during the last quarter. Finally, Barclays PLC lifted its stake in Daqo New Energy by 587.8% in the fourth quarter. Barclays PLC now owns 80,750 shares of the semiconductor company’s stock worth $1,570,000 after acquiring an additional 69,010 shares during the last quarter. Hedge funds and other institutional investors own 47.22% of the company’s stock.

Wall Street Analysts Forecast Growth

DQ has been the subject of a number of recent research reports. Hsbc Global Res downgraded shares of Daqo New Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Wall Street Zen upgraded shares of Daqo New Energy to a “sell” rating in a research note on Monday, April 21st. The Goldman Sachs Group downgraded shares of Daqo New Energy from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a research report on Tuesday, April 15th. Finally, HSBC downgraded shares of Daqo New Energy from a “buy” rating to a “hold” rating and set a $14.00 price objective for the company. in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.01.

Daqo New Energy Price Performance

DQ stock opened at $13.76 on Monday. The company has a fifty day moving average price of $15.06 and a 200 day moving average price of $17.99. Daqo New Energy Corp. has a 12 month low of $12.41 and a 12 month high of $30.85. The company has a market cap of $922.84 million, a price-to-earnings ratio of -7.44 and a beta of 0.58.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.05). Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. The business had revenue of $123.91 million during the quarter, compared to analysts’ expectations of $176.81 million. As a group, analysts anticipate that Daqo New Energy Corp. will post -3.5 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.