FIL Ltd Sells 931,051 Shares of Daqo New Energy Corp. (NYSE:DQ)

FIL Ltd trimmed its position in Daqo New Energy Corp. (NYSE:DQ - Free Report) by 53.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 813,088 shares of the semiconductor company's stock after selling 931,051 shares during the period. FIL Ltd owned 1.23% of Daqo New Energy worth $15,806,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Greenwoods Asset Management Hong Kong Ltd. boosted its holdings in Daqo New Energy by 5,286.6% in the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 2,714,780 shares of the semiconductor company's stock worth $52,775,000 after acquiring an additional 2,664,381 shares in the last quarter. Prudential PLC purchased a new stake in Daqo New Energy during the 4th quarter valued at about $14,775,000. Ariose Capital Management Ltd increased its stake in Daqo New Energy by 27.5% during the 4th quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company's stock valued at $29,271,000 after purchasing an additional 324,585 shares in the last quarter. Polymer Capital Management US LLC bought a new position in shares of Daqo New Energy in the fourth quarter worth approximately $3,983,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Daqo New Energy by 64.3% during the fourth quarter. Russell Investments Group Ltd. now owns 295,514 shares of the semiconductor company's stock valued at $5,745,000 after buying an additional 115,674 shares during the last quarter. Hedge funds and other institutional investors own 47.22% of the company's stock.

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Daqo New Energy Price Performance

Shares of DQ traded down $0.01 during trading hours on Tuesday, hitting $14.46. The stock had a trading volume of 529,211 shares, compared to its average volume of 1,043,679. Daqo New Energy Corp. has a 12 month low of $12.90 and a 12 month high of $30.85. The stock has a fifty day moving average price of $18.88 and a 200 day moving average price of $19.61. The firm has a market capitalization of $954.13 million, a PE ratio of -7.81 and a beta of 0.37.

Daqo New Energy (NYSE:DQ - Get Free Report) last released its quarterly 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 for the quarter, compared to analysts' expectations of $153.54 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. As a group, analysts anticipate that Daqo New Energy Corp. will post -3.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group lowered shares of Daqo New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price objective for the company. in a report on Tuesday. StockNews.com raised Daqo New Energy to a "sell" rating in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Daqo New Energy presently has a consensus rating of "Moderate Buy" and an average price target of $21.21.

About Daqo New Energy

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.