Allianz Asset Management GmbH Buys Shares of 414,950 DAQO New Energy Corp. $DQ

Allianz Asset Management GmbH bought a new position in shares of DAQO New Energy Corp. (NYSE:DQ) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 414,950 shares of the semiconductor company’s stock, valued at approximately $11,673,000. Allianz Asset Management GmbH owned 0.62% of DAQO New Energy at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in DQ. Headlands Technologies LLC purchased a new position in shares of DAQO New Energy during the 2nd quarter worth approximately $29,000. Marex Group plc acquired a new stake in shares of DAQO New Energy in the second quarter valued at $356,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of DAQO New Energy by 39.1% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,364 shares of the semiconductor company’s stock valued at $476,000 after buying an additional 8,815 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new position in DAQO New Energy during the 3rd quarter worth about $517,000. Finally, Q Fund Management Hong Kong Ltd acquired a new position in DAQO New Energy during the 2nd quarter worth about $558,000. 47.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DQ has been the topic of a number of recent research reports. New Street Research set a $18.13 price target on shares of DAQO New Energy in a research note on Tuesday, February 3rd. The Goldman Sachs Group set a $18.30 price target on shares of DAQO New Energy and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Roth Mkm set a $30.00 price target on shares of DAQO New Energy and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Weiss Ratings restated a “sell (d-)” rating on shares of DAQO New Energy in a report on Monday, December 29th. Finally, Glj Research cut shares of DAQO New Energy from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $30.51 to $18.13 in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $25.43.

DAQO New Energy Trading Up 1.4%

Shares of DAQO New Energy stock opened at $23.83 on Monday. The company has a fifty day simple moving average of $28.82 and a 200-day simple moving average of $27.65. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -4.64 and a beta of 0.70. DAQO New Energy Corp. has a 12-month low of $12.40 and a 12-month high of $36.59.

DAQO New Energy 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.