DAQO New Energy Corp. $DQ Shares Sold by Waterfront Wealth Inc.

Waterfront Wealth Inc. lessened its holdings in shares of DAQO New Energy Corp. (NYSE:DQ) by 33.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,830 shares of the semiconductor company’s stock after selling 25,503 shares during the period. Waterfront Wealth Inc. owned 0.08% of DAQO New Energy worth $1,430,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of DQ. Polunin Capital Partners Ltd acquired a new position in shares of DAQO New Energy in the 3rd quarter valued at $37,183,000. Goldman Sachs Group Inc. raised its holdings in shares of DAQO New Energy by 117.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock valued at $21,005,000 after purchasing an additional 625,900 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in DAQO New Energy in the third quarter valued at approximately $11,673,000. Millennium Management LLC increased its position in shares of DAQO New Energy by 1,261.0% during the first quarter. Millennium Management LLC now owns 354,596 shares of the semiconductor company’s stock worth $6,422,000 after purchasing an additional 328,541 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in DAQO New Energy by 137.6% during the second quarter. BNP Paribas Financial Markets now owns 401,919 shares of the semiconductor company’s stock worth $6,097,000 after buying an additional 232,759 shares during the period. Institutional investors and hedge funds own 47.22% of the company’s stock.

DAQO New Energy Trading Up 1.4%

NYSE:DQ opened at $23.83 on Monday. The firm has a market capitalization of $1.60 billion, a PE ratio of -4.64 and a beta of 0.70. DAQO New Energy Corp. has a 52 week low of $12.40 and a 52 week high of $36.59. The stock has a 50 day moving average of $28.82 and a 200-day moving average of $27.65.

Wall Street Analyst Weigh In

Several analysts have commented on DQ shares. The Goldman Sachs Group set a $18.30 price objective on DAQO New Energy and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DAQO New Energy in a report on Monday, December 29th. New Street Research set a $18.13 price target on DAQO New Energy in a report on Tuesday, February 3rd. Wall Street Zen upgraded DAQO New Energy from a “sell” rating to a “hold” rating in a research note on Monday, November 3rd. Finally, Glj Research lowered DAQO New Energy from a “buy” rating to a “sell” rating and reduced their price target for the stock from $30.51 to $18.13 in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, DAQO New Energy has a consensus rating of “Hold” and an average price target of $25.43.

DAQO New Energy Company Profile

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.