Daqo New Energy Corp. (NYSE:DQ) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its position in Daqo New Energy Corp. (NYSE:DQ - Free Report) by 1.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,638,793 shares of the semiconductor company's stock after selling 32,971 shares during the quarter. Franklin Resources Inc. owned approximately 4.00% of Daqo New Energy worth $52,195,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DQ. Blue Trust Inc. raised its stake in Daqo New Energy by 12,187.5% during the 2nd quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company's stock worth $29,000 after acquiring an additional 1,950 shares in the last quarter. Signaturefd LLC raised its position 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 buying an additional 602 shares during the last quarter. AXA S.A. raised its stake in shares of Daqo New Energy by 202.3% during the 2nd quarter. AXA S.A. now owns 6,387 shares of the semiconductor company's stock worth $93,000 after buying an additional 4,274 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Daqo New Energy by 22.2% during the 2nd quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company's stock valued at $118,000 after acquiring an additional 1,470 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in Daqo New Energy by 15.4% during the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company's stock worth $214,000 after purchasing an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 47.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DQ. Roth Mkm decreased their price objective on shares of Daqo New Energy from $23.00 to $15.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 28th. StockNews.com raised Daqo New Energy to a "sell" rating in a research note on Monday, September 23rd. Daiwa America raised Daqo New Energy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 30th. Daiwa Capital Markets upgraded Daqo New Energy from a "neutral" rating to an "outperform" rating in a research report on Wednesday, October 30th. Finally, HSBC upgraded Daqo New Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Daqo New Energy currently has a consensus rating of "Buy" and an average price target of $22.26.

Daqo New Energy Stock Down 2.1 %

Shares of NYSE DQ traded down $0.38 on Wednesday, hitting $17.58. The company had a trading volume of 455,854 shares, compared to its average volume of 1,162,860. Daqo New Energy Corp. has a 12-month low of $13.62 and a 12-month high of $30.85. The firm has a market capitalization of $1.16 billion, a P/E ratio of -9.50 and a beta of 0.28. The business has a 50 day moving average of $20.43 and a two-hundred day moving average of $18.32.

Daqo New Energy (NYSE:DQ - Get Free Report) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.12). Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. The firm had revenue of $198.50 million during the quarter, compared to analysts' expectations of $186.90 million. During the same quarter last year, the company posted ($0.09) earnings per share. On average, sell-side analysts anticipate that Daqo New Energy Corp. will post -3.5 earnings per share for the current year.

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.