DekaBank Deutsche Girozentrale increased its position in shares of Daqo New Energy Corp. (NYSE:DQ – Get Rating) by 53.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,254 shares of the semiconductor company’s stock after buying an additional 8,491 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Daqo New Energy were worth $1,211,000 as of its most recent SEC filing.
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Other hedge funds have also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Daqo New Energy by 137.6% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 34,476 shares of the semiconductor company’s stock valued at $1,483,000 after purchasing an additional 19,965 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Daqo New Energy by 67.8% during the first quarter. JPMorgan Chase & Co. now owns 161,748 shares of the semiconductor company’s stock worth $6,684,000 after purchasing an additional 65,361 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Daqo New Energy by 8.0% in the first quarter. American Century Companies Inc. now owns 33,487 shares of the semiconductor company’s stock valued at $1,384,000 after acquiring an additional 2,490 shares in the last quarter. US Bancorp DE lifted its position in shares of Daqo New Energy by 89.0% in the first quarter. US Bancorp DE now owns 1,981 shares of the semiconductor company’s stock valued at $82,000 after acquiring an additional 933 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new stake in shares of Daqo New Energy in the first quarter valued at $324,000.
Daqo New Energy Stock Down 0.5 %
NYSE:DQ opened at $46.43 on Thursday. The business’s 50 day moving average is $46.00 and its two-hundred day moving average is $54.14. Daqo New Energy Corp. has a 52 week low of $32.20 and a 52 week high of $77.18. The company has a market cap of $3.46 billion, a PE ratio of 2.18 and a beta of 0.46.
Daqo New Energy (NYSE:DQ – Get Rating) last announced its quarterly earnings results on Thursday, October 27th. The semiconductor company reported $4.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.87 by ($2.69). The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.10 billion. Daqo New Energy had a return on equity of 37.63% and a net margin of 39.51%. As a group, sell-side analysts expect that Daqo New Energy Corp. will post 27.13 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the company. The Goldman Sachs Group downgraded Daqo New Energy from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $140.00 to $70.00 in a research report on Monday, December 5th. StockNews.com initiated coverage on Daqo New Energy in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.00.
Daqo New Energy Company Profile
Daqo New Energy Corp. is a holding company, which engages in the provision of polysilicon products. It involves in the manufacture and sale of polysilicon to photovoltaic product manufactures, who further process the polysilicon into ingots, wafers, cells, and modules for solar power solutions. The company was founded by Guang Fu Xu on November 22, 2007 and is headquartered in Shanghai, China.
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