DAQO New Energy Corp. $DQ Shares Sold by Carmignac Gestion

Key Points

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Carmignac Gestion trimmed its position in shares of DAQO New Energy Corp. (NYSE:DQ - Free Report) by 9.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,514 shares of the semiconductor company's stock after selling 13,100 shares during the period. Carmignac Gestion owned approximately 0.18% of DAQO New Energy worth $2,219,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DQ. Caitong International Asset Management Co. Ltd grew its stake in shares of DAQO New Energy by 86,700.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,736 shares of the semiconductor company's stock valued at $31,000 after acquiring an additional 1,734 shares in the last quarter. CoreCommodity Management LLC lifted its stake in shares of DAQO New Energy by 1.6% in the fourth quarter. CoreCommodity Management LLC now owns 134,888 shares of the semiconductor company's stock worth $2,622,000 after acquiring an additional 2,183 shares in the last quarter. Nuveen Asset Management LLC boosted 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 valued at $762,000 after purchasing an additional 5,600 shares during the last quarter. American Century Companies Inc. grew its stake in DAQO New Energy by 4.7% during the 1st quarter. American Century Companies Inc. now owns 220,623 shares of the semiconductor company's stock valued at $3,995,000 after purchasing an additional 9,885 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in DAQO New Energy during the 1st quarter worth approximately $187,000. Hedge funds and other institutional investors own 47.22% of the company's stock.

Wall Street Analysts Forecast Growth

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

DAQO New Energy Trading Up 1.8%

NYSE DQ traded up $0.4050 during trading hours on Friday, reaching $22.8750. The company's stock had a trading volume of 839,671 shares, compared to its average volume of 974,040. The business has a 50-day simple moving average of $19.70 and a 200 day simple moving average of $17.63. DAQO New Energy Corp. has a 52 week low of $12.40 and a 52 week high of $30.85. The stock has a market cap of $1.53 billion, a PE ratio of -3.51 and a beta of 0.48.

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.