Blue Trust Inc. Sells 764 Shares of Daqo New Energy Corp. (NYSE:DQ)

Blue Trust Inc. lowered its stake in Daqo New Energy Corp. (NYSE:DQ) by 16.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Signaturefd LLC boosted its holdings in shares of Daqo New Energy by 27.3% during the 3rd quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock valued at $57,000 after buying an additional 602 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of 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 buying an additional 1,400 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in Daqo New Energy by 66.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,000 shares of the semiconductor company’s stock worth $285,000 after purchasing an additional 5,570 shares in the last quarter. Van ECK Associates Corp boosted its stake in Daqo New Energy by 7.6% in the 4th quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock worth $390,000 after purchasing an additional 1,410 shares in the last quarter. Finally, KBC Group NV boosted its stake in Daqo New Energy by 12.9% in 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 in the last quarter. Institutional investors own 47.22% of the company’s stock.

Daqo New Energy Stock Performance

Shares of NYSE:DQ opened at $21.74 on Monday. Daqo New Energy Corp. has a fifty-two week low of $13.62 and a fifty-two week high of $30.85. The business has a 50-day simple moving average of $19.47 and a two-hundred day simple moving average of $19.05. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -11.75 and a beta of 0.25.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Daiwa Capital Markets upgraded shares of Daqo New Energy from a “neutral” rating to an “outperform” rating in a research note on Wednesday, October 30th. Daiwa America upgraded shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, one has assigned 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, Daqo New Energy presently has a consensus rating of “Buy” and an average price target 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.