DAQO New Energy Corp. $DQ Shares Sold by Waterfront Wealth Inc.

Waterfront Wealth Inc. trimmed its holdings in DAQO New Energy Corp. (NYSE:DQ) by 33.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,830 shares of the semiconductor company’s stock after selling 25,503 shares during the quarter. Waterfront Wealth Inc.’s holdings in DAQO New Energy were worth $1,430,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of DQ. Mackenzie Financial Corp boosted its holdings in shares of DAQO New Energy by 1.4% in the second quarter. Mackenzie Financial Corp now owns 1,866,454 shares of the semiconductor company’s stock worth $28,314,000 after buying an additional 26,100 shares during the period. Polunin Capital Partners Ltd bought a new position in DAQO New Energy during the third quarter valued at approximately $37,183,000. Goldman Sachs Group Inc. lifted its stake in shares of DAQO New Energy by 117.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock valued at $21,005,000 after purchasing an additional 625,900 shares during the last quarter. FengHe Fund Management Pte. Ltd. lifted its holdings in DAQO New Energy by 62.4% in the 3rd quarter. FengHe Fund Management Pte. Ltd. now owns 469,833 shares of the semiconductor company’s stock worth $13,216,000 after purchasing an additional 180,457 shares during the last quarter. Finally, Allianz Asset Management GmbH acquired a new stake in shares of DAQO New Energy in the third quarter worth $11,673,000. 47.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on DQ. Roth Mkm set a $30.00 price target on shares of DAQO New Energy and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Wall Street Zen upgraded shares of DAQO New Energy from a “sell” rating to a “hold” rating in a research note on Monday, November 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of DAQO New Energy in a report on Monday, December 29th. The Goldman Sachs Group set a $18.30 price target on shares of DAQO New Energy and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Finally, Glj Research cut DAQO New Energy from a “buy” rating to a “sell” rating and lowered their price target for the company from $30.51 to $18.13 in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, DAQO New Energy currently has a consensus rating of “Hold” and an average price target of $25.43.

DAQO New Energy Trading Up 1.4%

Shares of DQ opened at $23.83 on Monday. The firm has a fifty day simple moving average of $28.82 and a 200 day simple moving average of $27.65. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -4.64 and a beta of 0.70. DAQO New Energy Corp. has a 12 month low of $12.40 and a 12 month high of $36.59.

About DAQO New Energy

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.