Nordea Investment Management AB reduced its stake in shares of Daqo New Energy Corp. (NYSE:DQ – Get Rating) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,753 shares of the semiconductor company’s stock after selling 1,169 shares during the quarter. Nordea Investment Management AB’s holdings in Daqo New Energy were worth $890,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in DQ. Handelsbanken Fonder AB raised its holdings in shares of Daqo New Energy by 417.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 884,521 shares of the semiconductor company’s stock valued at $50,418,000 after buying an additional 713,671 shares during the period. Morgan Stanley raised its holdings in shares of Daqo New Energy by 101.4% during the 2nd quarter. Morgan Stanley now owns 1,171,353 shares of the semiconductor company’s stock valued at $76,161,000 after buying an additional 589,693 shares during the period. Millennium Management LLC raised its holdings in shares of Daqo New Energy by 71.2% during the 3rd quarter. Millennium Management LLC now owns 1,104,657 shares of the semiconductor company’s stock valued at $62,965,000 after buying an additional 459,321 shares during the period. Franchise Capital Ltd purchased a new stake in Daqo New Energy during the 3rd quarter worth approximately $26,107,000. Finally, Marshall Wace LLP purchased a new stake in Daqo New Energy during the 3rd quarter worth approximately $25,335,000. Institutional investors and hedge funds own 68.12% of the company’s stock.
Shares of NYSE DQ opened at $46.04 on Friday. Daqo New Energy Corp. has a twelve month low of $32.20 and a twelve month high of $92.00. The company has a current ratio of 3.17, a quick ratio of 2.57 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 4.67 and a beta of 0.82. The business has a 50 day simple moving average of $42.10 and a 200-day simple moving average of $50.56.
Daqo New Energy (NYSE:DQ – Get Rating) last released its quarterly earnings data on Monday, February 28th. The semiconductor company reported $1.94 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.34 by ($0.40). Daqo New Energy had a net margin of 45.04% and a return on equity of 48.27%. The company had revenue of $395.55 million for the quarter, compared to analyst estimates of $510.30 million. During the same quarter in the prior year, the firm earned $0.96 EPS. As a group, equities analysts predict that Daqo New Energy Corp. will post 16.88 earnings per share for the current year.
Several equities research analysts have issued reports on DQ shares. StockNews.com upgraded Daqo New Energy from a “hold” rating to a “buy” rating in a report on Thursday, March 17th. TheStreet downgraded Daqo New Energy from a “b-” rating to a “c+” rating in a report on Monday, January 24th. Finally, Zacks Investment Research upgraded Daqo New Energy from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Wednesday, February 23rd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Daqo New Energy has an average rating of “Buy” and a consensus target price of $79.85.
Daqo New Energy Company Profile (Get Rating)
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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