Invesco Ltd. Has $28.88 Million Position in Daqo New Energy Corp. (NYSE:DQ)

Invesco Ltd. trimmed its holdings in shares of Daqo New Energy Corp. (NYSE:DQ - Free Report) by 2.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,485,641 shares of the semiconductor company's stock after selling 34,967 shares during the period. Invesco Ltd. owned 2.25% of Daqo New Energy worth $28,881,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of DQ. 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 increased its stake in shares of Daqo New Energy by 25.5% in the 4th quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company's stock valued at $311,000 after buying an additional 3,255 shares during the period. Van ECK Associates Corp raised its position in shares of Daqo New Energy by 7.6% during the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company's stock worth $390,000 after acquiring an additional 1,410 shares during the last quarter. Polymer Capital Management HK LTD acquired a new position in shares of Daqo New Energy during the fourth quarter valued at $404,000. Finally, Geode Capital Management LLC boosted its holdings in Daqo New Energy by 9.2% in the third quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company's stock valued at $683,000 after acquiring an additional 2,813 shares during the last quarter. Institutional investors own 47.22% of the company's stock.

Daqo New Energy Price Performance

Shares of Daqo New Energy stock traded up $0.43 during trading on Wednesday, hitting $14.24. 133,188 shares of the company were exchanged, compared to its average volume of 888,032. The firm has a market capitalization of $939.94 million, a P/E ratio of -7.70 and a beta of 0.37. The firm's fifty day moving average price is $18.00 and its 200 day moving average price is $19.30. Daqo New Energy Corp. has a 1-year low of $12.90 and a 1-year high of $30.85.

Daqo New Energy (NYSE:DQ - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($2.02). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The firm had revenue of $195.36 million for the quarter, compared to the consensus estimate of $153.54 million. As a group, equities research analysts anticipate that Daqo New Energy Corp. will post -3.5 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on DQ shares. The Goldman Sachs Group cut Daqo New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price objective for the company. in a report on Tuesday, April 15th. StockNews.com upgraded shares of Daqo New Energy to a "sell" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $21.21.

About Daqo New Energy

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.