FIL Ltd Lowers Position in Daqo New Energy Corp. (NYSE:DQ)

FIL Ltd reduced its position in Daqo New Energy Corp. (NYSE:DQ - Free Report) by 53.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 813,088 shares of the semiconductor company's stock after selling 931,051 shares during the quarter. FIL Ltd owned approximately 1.23% of Daqo New Energy worth $15,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in DQ. Prudential PLC bought a new position in shares of Daqo New Energy in the fourth quarter valued at approximately $14,775,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Daqo New Energy by 32.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company's stock worth $2,765,000 after purchasing an additional 33,031 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Daqo New Energy in the third quarter worth $1,053,000. AI Squared Management Ltd bought a new stake in Daqo New Energy during the fourth quarter valued at $1,499,000. Finally, Ariose Capital Management Ltd grew its position in Daqo New Energy by 27.5% during the fourth quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company's stock worth $29,271,000 after buying an additional 324,585 shares in the last quarter. 47.22% of the stock is owned by hedge funds and other institutional investors.

Daqo New Energy Price Performance

Daqo New Energy stock traded down $0.44 during trading hours on Thursday, reaching $13.69. The company had a trading volume of 233,713 shares, compared to its average volume of 1,043,654. The firm has a market cap of $903.64 million, a price-to-earnings ratio of -7.38 and a beta of 0.37. Daqo New Energy Corp. has a 12-month low of $12.90 and a 12-month high of $30.85. The company has a 50-day moving average price of $18.62 and a 200 day moving average price of $19.54.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DQ shares. The Goldman Sachs Group lowered Daqo New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price objective for the company. in a report on Tuesday. StockNews.com upgraded shares of Daqo New Energy to a "sell" rating in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Daqo New Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.21.

Daqo New Energy Profile

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.