Daqo New Energy Corp. (NYSE:DQ) is Continental General Insurance Co.'s 2nd Largest Position

Continental General Insurance Co. grew its stake in shares of Daqo New Energy Corp. (NYSE:DQ - Free Report) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,916,202 shares of the semiconductor company's stock after acquiring an additional 322,084 shares during the period. Daqo New Energy accounts for approximately 45.9% of Continental General Insurance Co.'s portfolio, making the stock its 2nd largest holding. Continental General Insurance Co. owned 8.96% of Daqo New Energy worth $115,011,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Daqo New Energy in the fourth quarter valued at approximately $52,000. Diametric Capital LP lifted its holdings in Daqo New Energy by 25.5% in the 4th quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company's stock worth $311,000 after buying an additional 3,255 shares during the period. Van ECK Associates Corp lifted its stake in Daqo New Energy by 7.6% in the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company's stock worth $390,000 after acquiring an additional 1,410 shares during the period. Polymer Capital Management HK LTD bought a new stake in shares of Daqo New Energy during the 4th quarter valued at about $404,000. Finally, Geode Capital Management LLC boosted its position in Daqo New Energy by 9.2% during the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company's stock valued at $683,000 after acquiring an additional 2,813 shares in the last quarter. Hedge funds and other institutional investors own 47.22% of the company's stock.

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Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Daqo New Energy to a "sell" rating in a report on Tuesday, March 18th. One equities research 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 MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $22.26.

Daqo New Energy Trading Up 0.9 %

DQ stock traded up $0.12 during midday trading on Friday, hitting $13.76. The company's stock had a trading volume of 1,374,864 shares, compared to its average volume of 1,046,290. The company has a market cap of $908.52 million, a PE ratio of -7.44 and a beta of 0.37. The firm's 50-day moving average is $18.95 and its 200-day moving average is $19.64. Daqo New Energy Corp. has a 12 month low of $12.90 and a 12 month high of $30.85.

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

Daqo New Energy Company 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.