Daqo New Energy Corp. (NYSE:DQ) Shares Bought by Northern Trust Corp

Northern Trust Corp boosted its holdings in shares of Daqo New Energy Corp. (NYSE:DQ - Free Report) by 27.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 119,786 shares of the semiconductor company's stock after buying an additional 25,647 shares during the quarter. Northern Trust Corp owned 0.18% of Daqo New Energy worth $2,329,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Continental General Insurance Co. raised its holdings in shares of Daqo New Energy by 5.8% in 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 purchasing an additional 322,084 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. raised its holdings in shares of Daqo New Energy by 5,286.6% in the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company's stock valued at $52,775,000 after purchasing an additional 2,664,381 shares in the last quarter. Prudential PLC acquired a new stake in shares of Daqo New Energy in the 4th quarter valued at $14,775,000. Russell Investments Group Ltd. raised its holdings in shares of Daqo New Energy by 64.3% in the 4th quarter. Russell Investments Group Ltd. now owns 295,514 shares of the semiconductor company's stock valued at $5,745,000 after purchasing an additional 115,674 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Daqo New Energy by 9.3% in the 4th quarter. American Century Companies Inc. now owns 210,738 shares of the semiconductor company's stock valued at $4,097,000 after purchasing an additional 17,880 shares in the last quarter. 47.22% of the stock is currently owned by institutional investors and hedge funds.

Daqo New Energy Stock Performance

Daqo New Energy stock traded down $0.39 during midday trading on Wednesday, hitting $13.60. 363,252 shares of the company's stock were exchanged, compared to its average volume of 1,017,518. Daqo New Energy Corp. has a 12-month low of $12.41 and a 12-month high of $30.85. The stock has a market cap of $911.84 million, a price-to-earnings ratio of -7.35 and a beta of 0.58. The firm's 50 day simple moving average is $14.80 and its 200 day simple moving average is $17.91.

Daqo New Energy (NYSE:DQ - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.05). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The business had revenue of $123.91 million for the quarter, compared to analysts' expectations of $176.81 million. On average, equities research analysts forecast that Daqo New Energy Corp. will post -3.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DQ shares. HSBC lowered shares of Daqo New Energy from a "buy" rating to a "hold" rating and set a $14.00 price objective on the stock. in a report on Wednesday, April 30th. Wall Street Zen raised shares of Daqo New Energy to a "sell" rating in a research report on Monday, April 21st. Hsbc Global Res lowered shares of Daqo New Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group lowered 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. One analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $21.01.

Daqo New Energy Company 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.