Prudential PLC Purchases New Shares in Daqo New Energy Corp. (NYSE:DQ)

Prudential PLC acquired a new stake in Daqo New Energy Corp. (NYSE:DQ - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 760,040 shares of the semiconductor company's stock, valued at approximately $14,775,000. Prudential PLC owned 1.15% of Daqo New Energy at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Greenwoods Asset Management Hong Kong Ltd. raised its position in Daqo New Energy by 5,286.6% during the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company's stock worth $52,775,000 after buying an additional 2,664,381 shares during the last quarter. Ariose Capital Management Ltd raised its holdings in Daqo New Energy by 27.5% during the fourth quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company's stock worth $29,271,000 after purchasing an additional 324,585 shares in the last quarter. State Street Corp increased its position in Daqo New Energy by 1.1% during the 3rd quarter. State Street Corp now owns 842,921 shares of the semiconductor company's stock worth $17,170,000 after purchasing an additional 8,983 shares during the period. American Century Companies Inc. raised its stake in shares of Daqo New Energy by 9.3% during the 4th quarter. American Century Companies Inc. now owns 210,738 shares of the semiconductor company's stock worth $4,097,000 after buying an additional 17,880 shares in the last quarter. Finally, Wexford Capital LP lifted its holdings in shares of Daqo New Energy by 395.7% in the 3rd quarter. Wexford Capital LP now owns 164,809 shares of the semiconductor company's stock valued at $3,357,000 after buying an additional 131,564 shares during the period. 47.22% of the stock is currently owned by hedge funds and other institutional investors.

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Daqo New Energy Stock Performance

NYSE DQ traded down $1.39 during mid-day trading on Thursday, reaching $13.17. 559,666 shares of the stock were exchanged, compared to its average volume of 1,039,498. The stock has a market capitalization of $869.11 million, a PE ratio of -7.14 and a beta of 0.37. Daqo New Energy Corp. has a 1-year low of $12.90 and a 1-year high of $30.85. The business's fifty day simple moving average is $19.13 and its 200 day simple moving average is $19.69.

Daqo New Energy (NYSE:DQ - Get Free Report) last released its earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) EPS for the quarter, missing the consensus estimate of ($0.69) by ($2.02). The business had revenue of $195.36 million during the quarter, compared to analyst estimates of $153.54 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. On average, analysts anticipate that Daqo New Energy Corp. will post -3.5 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Daqo New Energy to a "sell" rating in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $22.26.

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.