86,128 Shares in Daqo New Energy Corp. (NYSE:DQ) Bought by CoreCommodity Management LLC

CoreCommodity Management LLC bought a new position in Daqo New Energy Corp. (NYSE:DQ - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 86,128 shares of the semiconductor company's stock, valued at approximately $2,291,000. CoreCommodity Management LLC owned 0.11% of Daqo New Energy at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DQ. FengHe Fund Management Pte. Ltd. bought a new position in Daqo New Energy in the fourth quarter worth $11,480,000. Mackenzie Financial Corp raised its stake in Daqo New Energy by 23.8% during the fourth quarter. Mackenzie Financial Corp now owns 1,794,353 shares of the semiconductor company's stock worth $47,730,000 after acquiring an additional 344,616 shares in the last quarter. Oaktree Capital Management LP raised its stake in Daqo New Energy by 31.2% during the third quarter. Oaktree Capital Management LP now owns 1,350,410 shares of the semiconductor company's stock worth $40,877,000 after acquiring an additional 320,789 shares in the last quarter. UBS Group AG raised its stake in Daqo New Energy by 75.2% during the third quarter. UBS Group AG now owns 328,745 shares of the semiconductor company's stock worth $9,951,000 after acquiring an additional 141,079 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Daqo New Energy by 6.9% during the third quarter. Invesco Ltd. now owns 1,658,153 shares of the semiconductor company's stock worth $50,192,000 after acquiring an additional 107,235 shares in the last quarter. 47.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on DQ shares. HSBC reiterated a "reduce" rating and set a $17.50 price objective (down from $23.50) on shares of Daqo New Energy in a research note on Monday, May 6th. Daiwa Capital Markets reiterated an "underperform" rating and set a $25.00 price objective on shares of Daqo New Energy in a research note on Friday, March 15th. Finally, Roth Mkm restated a "neutral" rating and issued a $23.00 target price on shares of Daqo New Energy in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $27.63.

Daqo New Energy Price Performance

Shares of NYSE:DQ traded up $0.10 during midday trading on Monday, reaching $18.81. The company's stock had a trading volume of 412,832 shares, compared to its average volume of 1,207,438. Daqo New Energy Corp. has a fifty-two week low of $17.30 and a fifty-two week high of $43.66. The company has a market capitalization of $1.24 billion, a P/E ratio of 8.83 and a beta of 0.32. The business's fifty day simple moving average is $23.60 and its 200-day simple moving average is $23.18.

Daqo New Energy (NYSE:DQ - Get Free Report) last posted its quarterly earnings results on Monday, April 29th. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.32). The firm had revenue of $415.31 million during the quarter, compared to the consensus estimate of $491.90 million. Daqo New Energy had a net margin of 7.84% and a return on equity of 2.46%. During the same quarter in the prior year, the business earned $3.52 EPS. On average, analysts forecast that Daqo New Energy Corp. will post 0.98 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.