Tejara Capital Ltd Makes New $1.81 Million Investment in DAQO New Energy Corp. $DQ

Key Points

• Tejara Capital Ltd invested approximately $1.81 million in DAQO New Energy Corp. by acquiring 100,000 shares, representing about 0.15% ownership in the company.
• Several other institutional investors have recently adjusted their positions in DAQO, with assets now held by institutional investors making up 47.22% of the total stock.
• DAQO New Energy has seen varied analyst ratings, resulting in a consensus rating of "Moderate Buy" with a target price of $23.22.

Tejara Capital Ltd acquired a new position in DAQO New Energy Corp. (NYSE:DQ - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 100,000 shares of the semiconductor company's stock, valued at approximately $1,811,000. Tejara Capital Ltd owned approximately 0.15% of DAQO New Energy as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DQ. Caitong International Asset Management Co. Ltd raised its holdings in shares of DAQO New Energy by 86,700.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,736 shares of the semiconductor company's stock worth $31,000 after buying an additional 1,734 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of DAQO New Energy during the first quarter worth $187,000. XTX Topco Ltd acquired a new stake in DAQO New Energy during the first quarter worth approximately $316,000. Nuveen Asset Management LLC grew its position in shares of DAQO New Energy by 16.7% during 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. Finally, Nuveen LLC acquired a new stake in shares of DAQO New Energy in the 1st quarter valued at about $837,000. 47.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on DQ shares. Hsbc Global Res cut shares of DAQO New Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Citigroup began coverage on shares of DAQO New Energy in a report on Friday, July 18th. They issued a "buy" rating and a $27.00 price target on the stock. HSBC downgraded DAQO New Energy from a "buy" rating to a "hold" rating and set a $14.00 price objective on the stock. in a research note on Wednesday, April 30th. Finally, Glj Research upgraded shares of DAQO New Energy from a "sell" rating to a "buy" rating and set a $30.51 price target on the stock in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $23.22.

DAQO New Energy Price Performance

NYSE:DQ traded up $0.3110 during mid-day trading on Wednesday, reaching $22.8610. 606,998 shares of the company's stock traded hands, compared to its average volume of 1,143,726. DAQO New Energy Corp. has a 12-month low of $12.40 and a 12-month high of $30.85. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -3.51 and a beta of 0.48. The company has a 50 day moving average price of $19.35 and a 200-day moving average price of $17.57.

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.