Bank of America Corp DE Sells 35,491 Shares of DAQO New Energy Corp. (NYSE:DQ)

Bank of America Corp DE lowered its position in shares of DAQO New Energy Corp. (NYSE:DQ - Free Report) by 82.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,466 shares of the semiconductor company's stock after selling 35,491 shares during the quarter. Bank of America Corp DE's holdings in DAQO New Energy were worth $145,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of DQ. Continental General Insurance Co. lifted its position in shares of DAQO New Energy by 5.8% during the 4th quarter. Continental General Insurance Co. now owns 5,916,202 shares of the semiconductor company's stock valued at $115,011,000 after acquiring an additional 322,084 shares during the period. Northern Trust Corp lifted its position in DAQO New Energy by 27.2% during the fourth quarter. Northern Trust Corp now owns 119,786 shares of the semiconductor company's stock worth $2,329,000 after purchasing an additional 25,647 shares during the period. Prudential PLC acquired a new stake in DAQO New Energy during the fourth quarter worth about $14,775,000. Barclays PLC increased its holdings in DAQO New Energy by 587.8% in the 4th quarter. Barclays PLC now owns 80,750 shares of the semiconductor company's stock valued at $1,570,000 after buying an additional 69,010 shares during the period. Finally, AI Squared Management Ltd bought a new position in DAQO New Energy in the 4th quarter valued at about $1,499,000. Institutional investors own 47.22% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. HSBC lowered shares of DAQO New Energy from a "buy" rating to a "hold" rating and set a $14.00 price target on the stock. in a research report on Wednesday, April 30th. The Goldman Sachs Group downgraded shares of DAQO New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price target on the stock. in a research note on Tuesday, April 15th. Hsbc Global Res lowered shares of DAQO New Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, Wall Street Zen raised shares of DAQO New Energy to a "sell" rating in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, DAQO New Energy presently has an average rating of "Moderate Buy" and an average price target of $21.01.

DAQO New Energy Stock Performance

Shares of NYSE:DQ traded down $0.08 during midday trading on Friday, hitting $14.06. 228,619 shares of the stock were exchanged, compared to its average volume of 996,458. The business's 50-day moving average price is $13.89 and its 200 day moving average price is $17.22. The stock has a market capitalization of $943.09 million, a price-to-earnings ratio of -2.15 and a beta of 0.59. DAQO New Energy Corp. has a 12 month low of $12.41 and a 12 month high of $30.85.

DAQO New Energy (NYSE:DQ - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported ($1.07) EPS for the quarter, missing analysts' consensus estimates of ($1.02) by ($0.05). The business had revenue of $123.91 million for the quarter, compared to analyst estimates of $176.81 million. DAQO New Energy had a negative return on equity of 7.16% and a negative net margin of 58.63%. As a group, sell-side analysts expect that DAQO New Energy Corp. will post -3.5 EPS for the current 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.