Mirae Asset Global Investments Co. Ltd. Cuts Stake in Daqo New Energy Corp. (NYSE:DQ)

Mirae Asset Global Investments Co. Ltd. lowered its position in Daqo New Energy Corp. (NYSE:DQ) by 9.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,715 shares of the semiconductor company’s stock after selling 11,912 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.14% of Daqo New Energy worth $2,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Toroso Investments LLC purchased a new stake in Daqo New Energy in the third quarter worth approximately $35,000. US Bancorp DE boosted its stake in Daqo New Energy by 89.0% in the first quarter. US Bancorp DE now owns 1,981 shares of the semiconductor company’s stock worth $82,000 after buying an additional 933 shares in the last quarter. Atlas Capital Advisors LLC purchased a new stake in Daqo New Energy in the second quarter worth approximately $145,000. Seaport Global Advisors LLC boosted its stake in Daqo New Energy by 20.1% in the fourth quarter. Seaport Global Advisors LLC now owns 2,781 shares of the semiconductor company’s stock worth $107,000 after buying an additional 465 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Daqo New Energy during the second quarter valued at approximately $243,000. Hedge funds and other institutional investors own 47.22% of the company’s stock.

Analyst Ratings Changes

Separately, Daiwa Capital Markets reissued an “underperform” rating and set a $25.00 price objective on shares of Daqo New Energy in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $36.23.

Daqo New Energy Stock Performance

NYSE:DQ opened at $22.39 on Thursday. The firm has a market cap of $1.47 billion, a PE ratio of 4.14 and a beta of 0.22. Daqo New Energy Corp. has a fifty-two week low of $17.30 and a fifty-two week high of $48.31. The business has a 50 day moving average price of $24.01 and a 200-day moving average price of $24.12.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings data on Wednesday, February 28th. The semiconductor company reported $0.64 earnings per share 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 for the quarter, compared to analysts’ expectations of $529.40 million. During the same period last year, the company posted $4.71 EPS. Research 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.