Allianz Asset Management GmbH Makes New Investment in DAQO New Energy Corp. $DQ

Allianz Asset Management GmbH acquired a new stake in DAQO New Energy Corp. (NYSE:DQ) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 414,950 shares of the semiconductor company’s stock, valued at approximately $11,673,000.

Other hedge funds have also modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of DAQO New Energy in the 2nd quarter valued at $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in DAQO New Energy during the 3rd quarter worth $517,000. Marex Group plc purchased a new position in DAQO New Energy during the 2nd quarter worth $356,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in DAQO New Energy by 39.1% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,364 shares of the semiconductor company’s stock valued at $476,000 after purchasing an additional 8,815 shares during the period. Finally, Q Fund Management Hong Kong Ltd purchased a new stake in shares of DAQO New Energy in the second quarter valued at about $558,000. 47.22% of the stock is currently owned by hedge funds and other institutional investors.

DAQO New Energy Price Performance

DQ opened at $23.83 on Monday. DAQO New Energy Corp. has a 12 month low of $12.40 and a 12 month high of $36.59. The stock has a market capitalization of $1.60 billion, a P/E ratio of -4.64 and a beta of 0.70. The business has a 50 day simple moving average of $28.82 and a 200-day simple moving average of $27.65.

Wall Street Analyst Weigh In

DQ has been the topic of a number of research reports. Roth Mkm set a $30.00 price target on DAQO New Energy and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DAQO New Energy in a research report on Monday, December 29th. New Street Research set a $18.13 target price on DAQO New Energy in a research note on Tuesday, February 3rd. The Goldman Sachs Group set a $18.30 price target on DAQO New Energy and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Finally, Wall Street Zen upgraded shares of DAQO New Energy from a “sell” rating to a “hold” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $25.43.

DAQO New Energy Company Profile

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.