Van ECK Associates Corp Acquires 1,410 Shares of Daqo New Energy Corp. (NYSE:DQ)

Van ECK Associates Corp grew its holdings in Daqo New Energy Corp. (NYSE:DQ) by 7.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,067 shares of the semiconductor company’s stock after buying an additional 1,410 shares during the period. Van ECK Associates Corp’s holdings in Daqo New Energy were worth $390,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in DQ. Blue Trust Inc. boosted its position in Daqo New Energy by 132.3% in the 3rd quarter. Blue Trust Inc. now owns 4,567 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 2,601 shares during the period. Signaturefd LLC grew its stake in Daqo New Energy by 27.3% in the third quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 602 shares in the last quarter. KBC Group NV increased its holdings in Daqo New Energy by 12.9% during the 3rd quarter. KBC Group NV now owns 25,244 shares of the semiconductor company’s stock worth $514,000 after purchasing an additional 2,877 shares during the period. Daiwa Securities Group Inc. raised its position in Daqo New Energy by 15.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock valued at $214,000 after purchasing an additional 1,400 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in 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 valued at $1,519,000 after purchasing an additional 27,223 shares in the last quarter. 47.22% of the stock is currently owned by hedge funds and other institutional investors.

Daqo New Energy Stock Performance

Shares of DQ opened at $21.74 on Friday. The stock has a market capitalization of $1.43 billion, a PE ratio of -11.75 and a beta of 0.25. Daqo New Energy Corp. has a 1 year low of $13.62 and a 1 year high of $30.85. The company’s 50-day simple moving average is $19.47 and its 200-day simple moving average is $19.04.

Analysts Set New Price Targets

Several brokerages have recently commented on DQ. Daiwa America upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Daiwa Capital Markets raised shares of 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 issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Daqo New Energy has a consensus rating of “Buy” and a consensus target price 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.