XTX Topco Ltd Makes New Investment in DAQO New Energy Corp. (NYSE:DQ)

Key Points

• XTX Topco Ltd has taken a new position in DAQO New Energy Corp, acquiring 17,433 shares valued at approximately $316,000 during the first quarter.
• Institutional investors currently own 47.22% of DAQO's stock, with several other hedge funds increasing their stakes in the company over the last quarter.
• Analysts have mixed views on DAQO's stock, with a consensus rating of "Moderate Buy" and an average price target of $23.22, indicating potential for growth.

XTX Topco Ltd acquired a new position in DAQO New Energy Corp. (NYSE:DQ - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 17,433 shares of the semiconductor company's stock, valued at approximately $316,000.

Other hedge funds have also added to or reduced their stakes in the company. CoreCommodity Management LLC lifted its stake in shares of DAQO New Energy by 1.6% during the 4th quarter. CoreCommodity Management LLC now owns 134,888 shares of the semiconductor company's stock valued at $2,622,000 after buying an additional 2,183 shares in the last quarter. Nuveen Asset Management LLC lifted its stake 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 valued at $762,000 after buying an additional 5,600 shares in the last quarter. Northern Trust Corp lifted its stake 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. Symmetry Investments LP purchased a new stake in shares of DAQO New Energy during the 4th quarter valued at approximately $1,040,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of DAQO New Energy during the 4th quarter valued at approximately $1,187,000. Institutional investors own 47.22% of the company's stock.

DAQO New Energy Stock Performance

DAQO New Energy stock opened at $21.18 on Monday. The firm's fifty day moving average price is $18.03 and its 200-day moving average price is $17.33. The stock has a market cap of $1.42 billion, a P/E ratio of -3.25 and a beta of 0.48. DAQO New Energy Corp. has a fifty-two week low of $12.40 and a fifty-two week high of $30.85.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DQ shares. 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. Citigroup initiated coverage on shares of DAQO New Energy in a research note on Friday, July 18th. They issued a "buy" rating and a $27.00 target price on the stock. 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. 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. Finally, HSBC cut shares of DAQO New Energy from a "buy" rating to a "hold" rating and set a $14.00 target price on the stock. in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, DAQO New Energy has a consensus rating of "Moderate Buy" and an average price target of $23.22.

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.

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