Boston Partners reduced its stake in shares of Daqo New Energy Corp (NYSE:DQ) by 48.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,836 shares of the semiconductor company’s stock after selling 84,757 shares during the quarter. Boston Partners owned approximately 0.85% of Daqo New Energy worth $5,340,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Granite Point Capital Management L.P. purchased a new stake in Daqo New Energy in the third quarter valued at about $290,000. Acadian Asset Management LLC raised its stake in Daqo New Energy by 204.9% in the fourth quarter. Acadian Asset Management LLC now owns 395,275 shares of the semiconductor company’s stock valued at $23,494,000 after buying an additional 265,634 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in Daqo New Energy in the third quarter valued at about $490,000. JPMorgan Chase & Co. increased its holdings in shares of 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 purchasing an additional 28,789 shares during the period. Finally, Dymon Asia Capital Ltd. increased its holdings in shares of 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 purchasing an additional 64,850 shares during the period. Hedge funds and other institutional investors own 35.15% of the company’s stock.
DQ has been the topic of a number of research reports. Roth Capital set a $50.00 price objective on Daqo New Energy and gave the company a “buy” rating in a report on Thursday, November 16th. Zacks Investment Research lowered Daqo New Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 16th. Finally, TheStreet raised Daqo New Energy from a “c+” rating to a “b” rating in a report on Wednesday, November 15th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Daqo New Energy has an average rating of “Buy” and an average price target of $57.50.
Shares of Daqo New Energy Corp (NYSE:DQ) traded down $0.02 during mid-day trading on Monday, hitting $53.27. The stock had a trading volume of 302,600 shares, compared to its average volume of 381,145. The company has a quick ratio of 0.49, a current ratio of 0.57 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $560.31, a price-to-earnings ratio of 8.62, a PEG ratio of 1.37 and a beta of 1.62. Daqo New Energy Corp has a fifty-two week low of $18.01 and a fifty-two week high of $72.50.
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About Daqo New Energy
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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