Mackenzie Financial Corp Lowers Stake in Daqo New Energy Corp. (NYSE:DQ)

Mackenzie Financial Corp reduced its stake in shares of Daqo New Energy Corp. (NYSE:DQ - Free Report) by 27.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,015,738 shares of the semiconductor company's stock after selling 751,816 shares during the period. Mackenzie Financial Corp owned about 3.05% of Daqo New Energy worth $39,186,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Generali Investments CEE investicni spolecnost a.s. bought a new position in Daqo New Energy in the 4th quarter worth approximately $52,000. Diametric Capital LP boosted its holdings in Daqo New Energy by 25.5% in the 4th quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company's stock worth $311,000 after buying an additional 3,255 shares during the period. Van ECK Associates Corp boosted its holdings in Daqo New Energy by 7.6% in the 4th quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company's stock worth $390,000 after buying an additional 1,410 shares during the period. Polymer Capital Management HK LTD bought a new position in Daqo New Energy in the 4th quarter worth approximately $404,000. Finally, Nuveen Asset Management LLC boosted its holdings in Daqo New Energy by 16.7% in the 4th 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 period. 47.22% of the stock is owned by institutional investors.

Daqo New Energy Stock Performance

NYSE DQ traded down $0.53 on Friday, hitting $13.30. The stock had a trading volume of 136,681 shares, compared to its average volume of 1,011,170. Daqo New Energy Corp. has a 52-week low of $12.41 and a 52-week high of $30.85. The company has a market capitalization of $891.52 million, a price-to-earnings ratio of -7.18 and a beta of 0.58. The firm has a 50-day moving average of $14.61 and a 200-day moving average of $17.83.

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

Analysts Set New Price Targets

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

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.