Vanguard Group Inc. Lowers Stake in Daqo New Energy Corp. (NYSE:DQ)

Vanguard Group Inc. cut its holdings in Daqo New Energy Corp. (NYSE:DQ - Free Report) by 6.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,084,796 shares of the semiconductor company's stock after selling 135,359 shares during the quarter. Vanguard Group Inc. owned approximately 2.70% of Daqo New Energy worth $63,107,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in DQ. American Century Companies Inc. lifted its position in shares of Daqo New Energy by 45.8% during the third quarter. American Century Companies Inc. now owns 137,788 shares of the semiconductor company's stock valued at $4,171,000 after buying an additional 43,258 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Daqo New Energy by 1.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 420,656 shares of the semiconductor company's stock worth $12,733,000 after purchasing an additional 5,597 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Daqo New Energy by 43.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 82,209 shares of the semiconductor company's stock worth $2,481,000 after purchasing an additional 24,722 shares during the period. Covalis Capital LLP purchased a new position in shares of Daqo New Energy during the 3rd quarter valued at approximately $2,991,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Daqo New Energy by 21.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,443 shares of the semiconductor company's stock valued at $195,000 after buying an additional 1,125 shares in the last quarter. 47.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Daiwa Capital Markets restated an "underperform" rating and issued a $25.00 price objective on shares of Daqo New Energy in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $36.23.

Daqo New Energy Trading Down 4.1 %

Shares of NYSE:DQ traded down $1.12 on Monday, hitting $25.92. The company had a trading volume of 860,141 shares, compared to its average volume of 1,326,168. Daqo New Energy Corp. has a 52-week low of $17.30 and a 52-week high of $48.76. The business has a 50 day moving average of $23.16 and a 200 day moving average of $24.37. The company has a market cap of $2.00 billion, a PE ratio of 4.79 and a beta of 0.22.

Daqo New Energy (NYSE:DQ - Get Free Report) last posted its earnings results on Wednesday, February 28th. The semiconductor company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.20). Daqo New Energy had a net margin of 18.24% and a return on equity of 6.42%. The company had revenue of $477.13 million during the quarter, compared to analyst estimates of $529.40 million. During the same quarter last year, the business posted $4.71 EPS. As a group, equities analysts predict that Daqo New Energy Corp. will post 4.06 EPS for the current year.

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.