Nuveen LLC Acquires Shares of 46,200 DAQO New Energy Corp. $DQ

Nuveen LLC purchased a new position in shares of DAQO New Energy Corp. (NYSE:DQ - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 46,200 shares of the semiconductor company's stock, valued at approximately $837,000. Nuveen LLC owned about 0.07% of DAQO New Energy as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northern Trust Corp raised its holdings 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 valued at $2,329,000 after buying an additional 25,647 shares in the last quarter. Vanguard Group Inc. boosted its stake in DAQO New Energy by 1.5% in the first quarter. Vanguard Group Inc. now owns 1,745,544 shares of the semiconductor company's stock worth $31,612,000 after buying an additional 26,359 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in DAQO New Energy by 227.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 162,085 shares of the semiconductor company's stock valued at $2,935,000 after acquiring an additional 112,562 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of DAQO New Energy during the first quarter worth approximately $316,000. Finally, SG Americas Securities LLC purchased a new position in shares of DAQO New Energy during the first quarter worth approximately $9,372,000. 47.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DQ. Glj Research reaffirmed a "buy" rating and issued a $30.51 price objective on shares of DAQO New Energy in a research note on Tuesday, August 26th. HSBC upgraded shares of DAQO New Energy from a "hold" rating to a "buy" rating and set a $31.00 price target for the company in a research report on Wednesday, August 27th. Citigroup assumed coverage on 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. Wall Street Zen lowered DAQO New Energy from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, Hsbc Global Res upgraded DAQO New Energy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, DAQO New Energy presently has an average rating of "Buy" and a consensus target price of $26.10.

DAQO New Energy Stock Up 8.4%

Shares of DAQO New Energy stock traded up $2.25 during trading on Friday, reaching $29.21. 3,968,748 shares of the stock were exchanged, compared to its average volume of 1,233,939. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -5.00 and a beta of 0.50. DAQO New Energy Corp. has a 1 year low of $12.40 and a 1 year high of $30.85. The stock's fifty day moving average is $21.91 and its 200 day moving average is $17.87.

DAQO New Energy (NYSE:DQ - Get Free Report) last released its quarterly earnings results on Tuesday, August 26th. The semiconductor company reported ($1.14) EPS for the quarter, beating analysts' consensus estimates of ($1.16) by $0.02. DAQO New Energy had a negative return on equity of 6.54% and a negative net margin of 65.64%.The business had revenue of $75.19 million during the quarter, compared to analyst estimates of $140.54 million. Equities analysts forecast that DAQO New Energy Corp. will post -3.5 earnings per share for the current year.

DAQO New Energy announced that its Board of Directors has approved a share repurchase program on Tuesday, August 26th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

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.