Ecofin Ltd. Purchases Shares of 84,359 Daqo New Energy Corp (DQ)

Ecofin Ltd. purchased a new position in Daqo New Energy Corp (NYSE:DQ) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 84,359 shares of the semiconductor company’s stock, valued at approximately $1,583,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Rational Advisors LLC increased its position in Daqo New Energy Corp by 18.4% in the first quarter. Rational Advisors LLC now owns 5,800 shares of the semiconductor company’s stock worth $109,000 after buying an additional 900 shares during the period. Trexquant Investment LP purchased a new position in Daqo New Energy Corp during the first quarter worth $196,000. State of Wisconsin Investment Board purchased a new position in Daqo New Energy Corp during the first quarter worth $217,000. Acadian Asset Management LLC increased its position in Daqo New Energy Corp by 2,167.5% in the first quarter. Acadian Asset Management LLC now owns 161,783 shares of the semiconductor company’s stock worth $3,036,000 after buying an additional 154,648 shares during the period. Finally, Numeric Investors LLC purchased a new position in Daqo New Energy Corp during the fourth quarter worth $758,000. 32.42% of the stock is owned by hedge funds and other institutional investors.

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

Daqo New Energy Corp (NYSE:DQ) traded up 2.22% during trading on Friday, reaching $22.54. The company’s stock had a trading volume of 36,829 shares. The company’s 50-day moving average is $19.94 and its 200-day moving average is $21.75. Daqo New Energy Corp has a 12 month low of $18.01 and a 12 month high of $27.60. The stock has a market cap of $237.10 million, a PE ratio of 4.09 and a beta of 1.79.

Daqo New Energy Corp (NYSE:DQ) last released its quarterly earnings data on Tuesday, May 9th. The semiconductor company reported $2.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.76. The firm had revenue of $83.81 million during the quarter, compared to the consensus estimate of $72.50 million. Daqo New Energy Corp had a return on equity of 21.67% and a net margin of 21.05%. During the same quarter in the previous year, the company posted $1.12 earnings per share. Equities analysts expect that Daqo New Energy Corp will post $4.98 EPS for the current fiscal year.

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A number of equities analysts have weighed in on the company. Roth Capital set a $35.00 price target on Daqo New Energy Corp and gave the stock a “buy” rating in a research report on Saturday, May 13th. Zacks Investment Research raised Daqo New Energy Corp from a “sell” rating to a “hold” rating in a research report on Thursday, April 20th. Finally, Craig Hallum assumed coverage on Daqo New Energy Corp in a research report on Thursday, January 26th. They set a “buy” rating and a $40.00 price target for the company.

About Daqo New Energy Corp

Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company’s segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions.

12 Month Chart for NYSE:DQ

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