Prudential PLC Invests $14.78 Million in Daqo New Energy Corp. (NYSE:DQ)

Prudential PLC purchased a new stake in shares of Daqo New Energy Corp. (NYSE:DQ) in the fourth quarter, Holdings Channel reports. The firm purchased 760,040 shares of the semiconductor company’s stock, valued at approximately $14,775,000.

Several other institutional investors have also added to or reduced their stakes in the company. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of Daqo New Energy in the 4th quarter worth approximately $52,000. Diametric Capital LP lifted its stake in Daqo New Energy by 25.5% in the fourth quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company’s stock worth $311,000 after acquiring an additional 3,255 shares during the period. Van ECK Associates Corp boosted its holdings in Daqo New Energy by 7.6% in the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock valued at $390,000 after acquiring an additional 1,410 shares in the last quarter. Geode Capital Management LLC increased its position in Daqo New Energy by 9.2% during the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock valued at $683,000 after purchasing an additional 2,813 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in Daqo New Energy by 37.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 45,788 shares of the semiconductor company’s stock worth $890,000 after purchasing an additional 12,409 shares in the last quarter. Hedge funds and other institutional investors own 47.22% of the company’s stock.

Daqo New Energy Trading Down 6.6 %

Shares of Daqo New Energy stock opened at $15.52 on Friday. 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 $1.02 billion, a P/E ratio of -8.39 and a beta of 0.41. The business has a fifty day simple moving average of $19.48 and a two-hundred day simple moving average of $19.77.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Analysts predict that Daqo New Energy Corp. will post -3.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Daqo New Energy to a “sell” rating in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Daqo New Energy currently has a consensus rating of “Buy” and an average price target of $22.26.

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.