Invesco Ltd. decreased its position in shares of DAQO New Energy Corp. (NYSE:DQ - Free Report) by 5.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,401,128 shares of the semiconductor company's stock after selling 84,513 shares during the quarter. Invesco Ltd. owned approximately 2.09% of DAQO New Energy worth $25,374,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Northern Trust Corp grew its position in shares of DAQO New Energy by 27.2% during the 4th quarter. Northern Trust Corp now owns 119,786 shares of the semiconductor company's stock worth $2,329,000 after buying an additional 25,647 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of DAQO New Energy during the 1st quarter worth $316,000. Barclays PLC lifted its stake in shares of DAQO New Energy by 587.8% during the 4th quarter. Barclays PLC now owns 80,750 shares of the semiconductor company's stock worth $1,570,000 after purchasing an additional 69,010 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of DAQO New Energy by 381.6% during the 4th quarter. Hsbc Holdings PLC now owns 81,576 shares of the semiconductor company's stock worth $1,586,000 after purchasing an additional 64,639 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of DAQO New Energy during the 4th quarter worth $1,187,000. Institutional investors own 47.22% of the company's stock.
DAQO New Energy Price Performance
DAQO New Energy stock traded up $0.4050 during midday trading 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 stock's 50-day simple moving average is $19.70 and its 200-day simple moving average is $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 capitalization of $1.53 billion, a P/E ratio of -3.51 and a beta of 0.48.
Analyst Upgrades and Downgrades
DQ has been the subject of a number of analyst reports. Hsbc Global Res cut DAQO New Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Glj Research upgraded DAQO New Energy from a "sell" rating to a "buy" rating and set a $30.51 price objective for the company in a research note on Thursday, July 10th. HSBC cut DAQO New Energy from a "buy" rating to a "hold" rating and set a $14.00 price objective for the company. in a research note on Wednesday, April 30th. Finally, Citigroup initiated coverage on DAQO New Energy in a research note on Friday, July 18th. They set a "buy" rating and a $27.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.22.
View Our Latest Research Report on DAQO New Energy
DAQO New Energy Profile
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Free Report)
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.
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