Russell Investments Group Ltd. Purchases 115,674 Shares of Daqo New Energy Corp. (NYSE:DQ)

Russell Investments Group Ltd. grew its position in shares of Daqo New Energy Corp. (NYSE:DQ - Free Report) by 64.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 295,514 shares of the semiconductor company's stock after acquiring an additional 115,674 shares during the quarter. Russell Investments Group Ltd. owned 0.45% of Daqo New Energy worth $5,745,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Daqo New Energy in the 4th quarter valued at approximately $52,000. Diametric Capital LP raised its position in Daqo New Energy by 25.5% during the fourth quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company's stock worth $311,000 after acquiring an additional 3,255 shares in the last quarter. Van ECK Associates Corp lifted its stake in Daqo New Energy by 7.6% in the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company's stock valued at $390,000 after acquiring an additional 1,410 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Daqo New Energy by 9.2% in the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company's stock valued at $683,000 after acquiring an additional 2,813 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Daqo New Energy by 37.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 45,788 shares of the semiconductor company's stock worth $890,000 after purchasing an additional 12,409 shares during the last quarter. 47.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DQ shares. The Goldman Sachs Group cut Daqo New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price target for the company. in a report on Tuesday. StockNews.com raised Daqo New Energy to a "sell" rating in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $21.21.

Daqo New Energy Stock Performance

Shares of NYSE DQ traded down $0.13 during trading hours on Friday, reaching $14.00. 910,789 shares of the stock were exchanged, compared to its average volume of 1,049,092. The stock's fifty day simple moving average is $18.32 and its 200 day simple moving average is $19.45. The firm has a market capitalization of $923.83 million, a price-to-earnings ratio of -7.57 and a beta of 0.37. Daqo New Energy Corp. has a 52 week low of $12.90 and a 52 week high of $30.85.

Daqo New Energy (NYSE:DQ - Get Free Report) last posted its earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share for the quarter, missing analysts' consensus estimates of ($0.69) by ($2.02). The firm had revenue of $195.36 million for the quarter, compared to analyst estimates of $153.54 million. Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. Research analysts predict that Daqo New Energy Corp. will post -3.5 EPS for the current fiscal year.

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.