Wellington Management Group LLP Purchases Shares of 4,134 Daqo New Energy Corp (NYSE:DQ)

Wellington Management Group LLP purchased a new stake in shares of Daqo New Energy Corp (NYSE:DQ) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,134 shares of the semiconductor company’s stock, valued at approximately $239,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nomura Holdings Inc. lifted its position in shares of Daqo New Energy by 2,400.0% during the first quarter. Nomura Holdings Inc. now owns 8,750,000 shares of the semiconductor company’s stock worth $503,125,000 after purchasing an additional 8,400,000 shares in the last quarter. Citigroup Inc. increased its stake in shares of Daqo New Energy by 3.0% in the fourth quarter. Citigroup Inc. now owns 495,594 shares of the semiconductor company’s stock worth $25,374,000 after buying an additional 14,600 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Daqo New Energy by 25.9% in the fourth quarter. Bank of America Corp DE now owns 364,335 shares of the semiconductor company’s stock worth $18,653,000 after buying an additional 74,897 shares during the last quarter. State Street Corp increased its stake in shares of Daqo New Energy by 13.9% in the first quarter. State Street Corp now owns 262,963 shares of the semiconductor company’s stock worth $15,231,000 after buying an additional 31,996 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Daqo New Energy by 2.5% in the first quarter. BlackRock Inc. now owns 205,233 shares of the semiconductor company’s stock worth $11,887,000 after buying an additional 5,083 shares during the last quarter.

Several analysts have weighed in on the stock. Daiwa Capital Markets assumed coverage on shares of Daqo New Energy in a research note on Tuesday, March 10th. They set a “buy” rating for the company. Roth Capital boosted their target price on shares of Daqo New Energy from $55.00 to $70.00 in a research note on Thursday, March 12th. ValuEngine upgraded shares of Daqo New Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, June 23rd. TheStreet upgraded shares of Daqo New Energy from a “c” rating to a “b-” rating in a research report on Wednesday, June 24th. Finally, Zacks Investment Research lowered shares of Daqo New Energy from a “hold” rating to a “sell” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $67.33.

Daqo New Energy stock opened at $76.32 on Wednesday. The company has a 50-day simple moving average of $57.09 and a 200-day simple moving average of $55.63. The firm has a market capitalization of $1.04 billion, a P/E ratio of 19.72, a P/E/G ratio of 0.40 and a beta of 0.83. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.36 and a current ratio of 0.44. Daqo New Energy Corp has a one year low of $35.73 and a one year high of $81.46.

Daqo New Energy (NYSE:DQ) last announced its earnings results on Wednesday, May 20th. The semiconductor company reported $2.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.96. Daqo New Energy had a net margin of 12.82% and a return on equity of 10.03%. The firm had revenue of $168.83 million during the quarter, compared to analyst estimates of $150.50 million. During the same quarter in the prior year, the firm posted $0.81 EPS. As a group, sell-side analysts forecast that Daqo New Energy Corp will post 6.02 earnings per share for the current year.

About Daqo New Energy

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon and wafers in the People's Republic of China. It operates through two segments, Polysilicon and Wafers. The company offers polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.

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Institutional Ownership by Quarter for Daqo New Energy (NYSE:DQ)

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