FengHe Fund Management Pte. Ltd. Cuts Stake in Daqo New Energy Corp. (NYSE:DQ)

FengHe Fund Management Pte. Ltd. lowered its holdings in Daqo New Energy Corp. (NYSE:DQ - Free Report) by 51.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 256,076 shares of the semiconductor company's stock after selling 272,760 shares during the period. Daqo New Energy makes up 1.5% of FengHe Fund Management Pte. Ltd.'s holdings, making the stock its 11th biggest holding. FengHe Fund Management Pte. Ltd. owned approximately 0.39% of Daqo New Energy worth $4,978,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DQ. Signaturefd LLC grew its holdings in Daqo New Energy by 27.3% during the 3rd quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company's stock worth $57,000 after acquiring an additional 602 shares in the last quarter. Blue Trust Inc. grew its holdings in Daqo New Energy by 132.3% during the 3rd quarter. Blue Trust Inc. now owns 4,567 shares of the semiconductor company's stock worth $93,000 after acquiring an additional 2,601 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Daqo New Energy by 15.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company's stock worth $214,000 after acquiring an additional 1,400 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in Daqo New Energy by 66.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,000 shares of the semiconductor company's stock worth $285,000 after acquiring an additional 5,570 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in Daqo New Energy by 7.6% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 47.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Daiwa Capital Markets upgraded shares of Daqo New Energy from a "neutral" rating to an "outperform" rating in a report on Wednesday, October 30th. Daiwa America upgraded shares of Daqo New Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Daqo New Energy currently has an average rating of "Buy" and a consensus price target of $22.26.

Daqo New Energy Trading Up 0.3 %

DQ stock traded up $0.06 on Thursday, hitting $22.66. The company's stock had a trading volume of 1,536,677 shares, compared to its average volume of 778,781. The firm has a 50 day moving average of $19.40 and a two-hundred day moving average of $18.98. Daqo New Energy Corp. has a 1 year low of $13.62 and a 1 year high of $30.85. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -12.25 and a beta of 0.25.

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.