Acadian Asset Management LLC boosted its position in Daqo New Energy Corp (NYSE:DQ) by 204.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 395,275 shares of the semiconductor company’s stock after buying an additional 265,634 shares during the period. Acadian Asset Management LLC owned approximately 3.76% of Daqo New Energy worth $23,494,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of DQ. Dymon Asia Capital Ltd. lifted its holdings in Daqo New Energy by 46.6% in the third quarter. Dymon Asia Capital Ltd. now owns 203,867 shares of the semiconductor company’s stock valued at $5,916,000 after acquiring an additional 64,850 shares during the period. Quentec Asset Management LLC lifted its holdings in Daqo New Energy by 5.0% in the second quarter. Quentec Asset Management LLC now owns 977,106 shares of the semiconductor company’s stock valued at $20,285,000 after acquiring an additional 46,888 shares during the period. JPMorgan Chase & Co. lifted its holdings in Daqo New Energy by 29,376.5% in the third quarter. JPMorgan Chase & Co. now owns 28,887 shares of the semiconductor company’s stock valued at $852,000 after acquiring an additional 28,789 shares during the period. Ecofin Ltd. lifted its holdings in Daqo New Energy by 22.3% in the second quarter. Ecofin Ltd. now owns 103,205 shares of the semiconductor company’s stock valued at $2,143,000 after acquiring an additional 18,846 shares during the period. Finally, Susquehanna International Group LLP acquired a new position in Daqo New Energy in the third quarter valued at approximately $490,000. Hedge funds and other institutional investors own 29.21% of the company’s stock.
Shares of Daqo New Energy Corp (NYSE:DQ) traded down $0.25 during mid-day trading on Monday, hitting $49.48. The stock had a trading volume of 197,362 shares, compared to its average volume of 405,873. Daqo New Energy Corp has a twelve month low of $18.01 and a twelve month high of $72.50. The company has a current ratio of 0.57, a quick ratio of 0.49 and a debt-to-equity ratio of 0.34. The firm has a market cap of $523.07, a P/E ratio of 8.40, a price-to-earnings-growth ratio of 1.28 and a beta of 1.62.
Daqo New Energy (NYSE:DQ) last posted its quarterly earnings data on Tuesday, November 14th. The semiconductor company reported $2.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.81. Daqo New Energy had a return on equity of 21.51% and a net margin of 21.42%. The firm had revenue of $89.37 million during the quarter, compared to the consensus estimate of $74.90 million. research analysts forecast that Daqo New Energy Corp will post 7.18 EPS for the current year.
A number of brokerages have issued reports on DQ. Zacks Investment Research downgraded Daqo New Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 16th. Roth Capital set a $65.00 target price on Daqo New Energy and gave the stock a “buy” rating in a research note on Monday, December 4th. Finally, TheStreet raised Daqo New Energy from a “c+” rating to a “b” rating in a research note on Wednesday, November 15th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $57.50.
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Daqo New Energy Profile
Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company’s segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions.
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