First Trust Advisors LP trimmed its holdings in shares of Daqo New Energy Corp (NYSE:DQ) by 5.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 52,435 shares of the semiconductor company’s stock after selling 3,137 shares during the period. First Trust Advisors LP’s holdings in Daqo New Energy were worth $1,369,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Guinness Asset Management Ltd grew its position in Daqo New Energy by 87.3% in the 3rd quarter. Guinness Asset Management Ltd now owns 14,800 shares of the semiconductor company’s stock valued at $386,000 after acquiring an additional 6,900 shares in the last quarter. Guinness Atkinson Asset Management Inc grew its position in Daqo New Energy by 45.8% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 10,500 shares of the semiconductor company’s stock valued at $274,000 after acquiring an additional 3,300 shares in the last quarter. Northern Trust Corp acquired a new position in Daqo New Energy in the 2nd quarter valued at about $351,000. Ardsley Advisory Partners acquired a new position in Daqo New Energy in the 2nd quarter valued at about $1,067,000. Finally, Bank of America Corp DE grew its position in Daqo New Energy by 210.4% in the 2nd quarter. Bank of America Corp DE now owns 360,329 shares of the semiconductor company’s stock valued at $12,806,000 after acquiring an additional 244,237 shares in the last quarter. Institutional investors own 38.77% of the company’s stock.
Several equities analysts have weighed in on the company. Credit Suisse Group assumed coverage on Daqo New Energy in a research report on Friday, August 24th. They issued an “outperform” rating and a $58.00 target price for the company. Zacks Investment Research raised Daqo New Energy from a “hold” rating to a “strong-buy” rating and set a $25.00 target price for the company in a research report on Thursday, November 15th. TheStreet downgraded Daqo New Energy from a “b-” rating to a “c+” rating in a research report on Wednesday, October 24th. Finally, ValuEngine downgraded Daqo New Energy from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Daqo New Energy currently has an average rating of “Buy” and a consensus target price of $43.67.
NYSE DQ opened at $25.01 on Friday. Daqo New Energy Corp has a 1-year low of $20.35 and a 1-year high of $72.50. The stock has a market capitalization of $262.64 million, a price-to-earnings ratio of 3.51 and a beta of 1.35. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.26 and a quick ratio of 1.15.
Daqo New Energy (NYSE:DQ) last announced its quarterly earnings data on Tuesday, November 13th. The semiconductor company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of ($1.36) by $1.68. Daqo New Energy had a return on equity of 17.53% and a net margin of 17.71%. The business had revenue of $67.40 million during the quarter, compared to the consensus estimate of $74.50 million. During the same period in the previous year, the company posted $2.35 earnings per share. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. On average, sell-side analysts forecast that Daqo New Energy Corp will post 4.02 earnings per share for the current fiscal year.
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About Daqo New Energy
Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon and wafers in the People's Republic of China. It operates through two segments, Polysilicon and Wafers. The company offers polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.
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