Aberdeen Group plc Purchases 39,203 Shares of DAQO New Energy Corp. $DQ

Key Points

• Aberdeen Group plc increased its stake in DAQO New Energy Corp. by 64.1% during the first quarter, now owning 100,345 shares valued at approximately $1.82 million.
• Other institutional investors, including Northern Trust Corp and Barclays PLC, also expanded their holdings, indicating significant institutional interest in DAQO New Energy.
• DAQO New Energy's stock has seen a 12-month price range between $12.40 and $30.85, currently trading at about $22.49.

Aberdeen Group plc raised its holdings in shares of DAQO New Energy Corp. (NYSE:DQ - Free Report) by 64.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,345 shares of the semiconductor company's stock after acquiring an additional 39,203 shares during the period. Aberdeen Group plc owned approximately 0.15% of DAQO New Energy worth $1,817,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of DQ. Caitong International Asset Management Co. Ltd raised its stake in shares of DAQO New Energy by 86,700.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,736 shares of the semiconductor company's stock worth $31,000 after buying an additional 1,734 shares in the last quarter. Virtu Financial LLC purchased a new stake in DAQO New Energy in the 1st quarter worth approximately $187,000. XTX Topco Ltd purchased a new position in DAQO New Energy in the first quarter valued at about $316,000. Nuveen Asset Management LLC increased its holdings in DAQO New Energy by 16.7% in the fourth quarter. Nuveen Asset Management LLC now owns 39,200 shares of the semiconductor company's stock worth $762,000 after buying an additional 5,600 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of DAQO New Energy in the 1st quarter valued at $837,000. Institutional investors own 47.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DQ shares. Glj Research upgraded DAQO New Energy from a "sell" rating to a "buy" rating and set a $30.51 target price for the company in a report on Thursday, July 10th. Citigroup started coverage on DAQO New Energy in a research note on Friday, July 18th. They set a "buy" rating and a $27.00 price target on the stock. Hsbc Global Res lowered DAQO New Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, HSBC lowered DAQO New Energy from a "buy" rating to a "hold" rating and set a $14.00 price objective on the stock. in a research note on Wednesday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $23.22.

DAQO New Energy Trading Up 1.8%

Shares of NYSE DQ traded up $0.4050 during mid-day trading on Friday, reaching $22.8750. 839,671 shares of the company's stock were exchanged, compared to its average volume of 933,513. The business has a fifty day simple moving average of $19.70 and a 200 day simple moving average of $17.63. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -3.51 and a beta of 0.48. DAQO New Energy Corp. has a twelve month low of $12.40 and a twelve month high of $30.85.

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.