Prudential PLC Has $15.38 Million Stock Holdings in DAQO New Energy Corp. (NYSE:DQ)

Key Points

• Prudential PLC increased its holdings in DAQO New Energy Corp. by 11.8% during the first quarter, bringing its total shares to approximately 849,471, valued at around $15.4 million.
• A variety of institutional investors, including Nuveen Asset Management LLC and Symmetry Investments LP, have also significantly altered their positions in DAQO, demonstrating growing interest in the company.
• Analysts have mixed views on DAQO New Energy, with ratings ranging from sell to strong buy, and a current consensus rating of "Moderate Buy" with an average target price of $23.22.

Prudential PLC raised its position in shares of DAQO New Energy Corp. (NYSE:DQ - Free Report) by 11.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 849,471 shares of the semiconductor company's stock after purchasing an additional 89,431 shares during the quarter. Prudential PLC owned about 1.27% of DAQO New Energy worth $15,384,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Russell Investments Group Ltd. raised its holdings in DAQO New Energy by 64.3% during the fourth quarter. Russell Investments Group Ltd. now owns 295,514 shares of the semiconductor company's stock valued at $5,745,000 after buying an additional 115,674 shares in the last quarter. Barclays PLC increased its stake in shares of DAQO New Energy by 587.8% in the fourth 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 period. Hsbc Holdings PLC increased its stake in shares of DAQO New Energy by 381.6% in the fourth 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 period. Symmetry Investments LP bought a new position in shares of DAQO New Energy in the fourth quarter worth about $1,040,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of DAQO New Energy in the fourth quarter worth about $1,187,000. 47.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on DQ. Glj Research upgraded DAQO New Energy from a "sell" rating to a "buy" rating and set a $30.51 price objective on the stock in a research note on Thursday, July 10th. Citigroup started coverage on DAQO New Energy in a research note on Friday, July 18th. They set a "buy" rating and a $27.00 price target on the stock. HSBC lowered DAQO New Energy from a "buy" rating to a "hold" rating and set a $14.00 price target on the stock. in a research note on Wednesday, April 30th. Hsbc Global Res downgraded DAQO New Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, Wall Street Zen raised DAQO New Energy to a "sell" rating in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $23.22.

DAQO New Energy Stock Up 7.9%

Shares of DQ traded up $1.69 during trading hours on Friday, reaching $22.95. The stock had a trading volume of 1,546,725 shares, compared to its average volume of 1,327,529. DAQO New Energy Corp. has a 52 week low of $12.40 and a 52 week high of $30.85. The firm has a 50-day moving average of $18.86 and a 200 day moving average of $17.47. The company has a market cap of $1.54 billion, a P/E ratio of -3.53 and a beta of 0.48.

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.