760,040 Shares in Daqo New Energy Corp. (NYSE:DQ) Purchased by Prudential PLC

Prudential PLC bought a new stake in shares of Daqo New Energy Corp. (NYSE:DQ) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 760,040 shares of the semiconductor company’s stock, valued at approximately $14,775,000. Prudential PLC owned approximately 1.15% of Daqo New Energy as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Daqo New Energy by 32.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company’s stock worth $2,765,000 after buying an additional 33,031 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Daqo New Energy in the 3rd quarter valued at about $1,053,000. AI Squared Management Ltd bought a new stake in shares of Daqo New Energy during the 4th quarter valued at about $1,499,000. Ariose Capital Management Ltd grew its holdings in shares of Daqo New Energy by 27.5% during the fourth quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock worth $29,271,000 after purchasing an additional 324,585 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Daqo New Energy by 57.5% in the third quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company’s stock worth $1,519,000 after purchasing an additional 27,223 shares during the last quarter. 47.22% of the stock is currently owned by institutional investors.

Daqo New Energy Price Performance

Shares of NYSE DQ opened at $15.52 on Friday. The stock has a market capitalization of $1.02 billion, a P/E ratio of -8.39 and a beta of 0.41. Daqo New Energy Corp. has a one year low of $13.62 and a one year high of $30.85. The firm’s 50 day simple moving average is $19.48 and its two-hundred day simple moving average is $19.77.

Daqo New Energy (NYSE:DQ) last issued its earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by ($2.02). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The business had revenue of $195.36 million during the quarter, compared to analysts’ expectations of $153.54 million. As a group, equities analysts expect that Daqo New Energy Corp. will post -3.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.