E Fund Management Co. Ltd. lowered its stake in shares of Daqo New Energy Corp. (NYSE:DQ – Free Report) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,656 shares of the semiconductor company’s stock after selling 2,563 shares during the quarter. E Fund Management Co. Ltd. owned 0.07% of Daqo New Energy worth $2,130,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. SG Americas Securities LLC boosted its holdings in shares of Daqo New Energy by 72.7% in the 2nd quarter. SG Americas Securities LLC now owns 75,701 shares of the semiconductor company’s stock worth $3,005,000 after buying an additional 31,879 shares during the last quarter. Private Wealth Partners LLC bought a new stake in shares of Daqo New Energy in the 1st quarter worth approximately $224,000. Psagot Value Holdings Ltd. Israel purchased a new position in Daqo New Energy in the first quarter valued at approximately $227,000. Unigestion Holding SA bought a new position in Daqo New Energy during the second quarter valued at $2,093,000. Finally, Prudential PLC increased its position in Daqo New Energy by 7.3% in the first quarter. Prudential PLC now owns 399,990 shares of the semiconductor company’s stock worth $18,736,000 after buying an additional 27,278 shares during the last quarter. 57.38% of the stock is currently owned by institutional investors.
Daqo New Energy Price Performance
Daqo New Energy stock traded down $1.07 during trading hours on Tuesday, reaching $26.09. The company had a trading volume of 208,908 shares, compared to its average volume of 1,053,953. Daqo New Energy Corp. has a 12-month low of $22.94 and a 12-month high of $56.98. The company has a 50-day moving average price of $27.68 and a 200 day moving average price of $34.54. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 2.78 and a beta of 0.54.
Analysts Set New Price Targets
Several research analysts recently commented on the stock. Daiwa Capital Markets downgraded shares of Daqo New Energy from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $45.00 to $32.00 in a report on Tuesday, September 19th. StockNews.com began coverage on Daqo New Energy in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Nomura raised Daqo New Energy from a “neutral” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Friday, August 4th. Finally, HSBC decreased their price target on Daqo New Energy from $42.80 to $38.70 and set a “hold” rating on the stock in a research report on Friday, August 4th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Daqo New Energy presently has a consensus rating of “Hold” and an average target price of $46.43.
About Daqo New Energy
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.
- Five stocks we like better than Daqo New Energy
- How to Invest in Virtual Reality
- Wynn Resorts has an ace up its sleeve
- How to Choose Top Rated Stocks
- Zoom Video Communications: A tech phoenix ready to rise
- Insider Buying Explained: What Investors Need to Know
- The only two airline stocks worth buying: One is a Goldman pick
Receive News & Ratings for Daqo New Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Daqo New Energy and related companies with MarketBeat.com's FREE daily email newsletter.