Daqo New Energy Corp. (NYSE:DQ) Shares Sold by Blue Trust Inc.

Blue Trust Inc. reduced its position in Daqo New Energy Corp. (NYSE:DQ) by 16.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,803 shares of the semiconductor company’s stock after selling 764 shares during the period. Blue Trust Inc.’s holdings in Daqo New Energy were worth $77,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC raised its stake in Daqo New Energy by 27.3% in the 3rd quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 602 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Daqo New Energy by 4.3% during the third quarter. Van ECK Associates Corp now owns 18,657 shares of the semiconductor company’s stock worth $415,000 after buying an additional 764 shares in the last quarter. KBC Group NV raised its position in shares of Daqo New Energy by 12.9% in the third quarter. KBC Group NV now owns 25,244 shares of the semiconductor company’s stock valued at $514,000 after buying an additional 2,877 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of 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 valued at $214,000 after buying an additional 1,400 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in shares of Daqo New Energy by 57.5% during the 3rd 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 period. 47.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DQ. 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 raised Daqo New Energy from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Daqo New Energy currently has a consensus rating of “Buy” and a consensus price target of $22.26.

Daqo New Energy Stock Up 9.8 %

Daqo New Energy stock opened at $21.65 on Friday. The firm has a fifty day moving average of $18.99 and a 200-day moving average of $18.68. The firm has a market capitalization of $1.43 billion, a P/E ratio of -11.70 and a beta of 0.25. Daqo New Energy Corp. has a 52-week low of $13.62 and a 52-week high of $30.85.

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.