Wellington Management Group LLP Acquires 26,462 Shares of Daqo New Energy Corp. (NYSE:DQ)

Wellington Management Group LLP boosted its holdings in Daqo New Energy Corp. (NYSE:DQ) by 26.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 128,422 shares of the semiconductor company’s stock after buying an additional 26,462 shares during the period. Wellington Management Group LLP owned approximately 0.19% of Daqo New Energy worth $2,616,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Signaturefd LLC grew 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 worth $57,000 after purchasing an additional 602 shares in the last quarter. Van ECK Associates Corp lifted its position in Daqo New Energy by 4.3% in the third quarter. Van ECK Associates Corp now owns 18,657 shares of the semiconductor company’s stock worth $415,000 after purchasing an additional 764 shares during the period. Daiwa Securities Group Inc. boosted its stake in 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 worth $214,000 after buying an additional 1,400 shares in the last quarter. Rhumbline Advisers increased its holdings in Daqo New Energy by 22.2% in the 2nd quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock valued at $118,000 after buying an additional 1,470 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Daqo New Energy by 12,187.5% in the 2nd quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 1,950 shares in the last quarter. 47.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DQ. Daiwa Capital Markets upgraded shares of Daqo New Energy from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 30th. HSBC upgraded Daqo New Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Daiwa America upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. StockNews.com upgraded Daqo New Energy to a “sell” rating in a research report on Monday, September 23rd. Finally, Nomura Securities upgraded Daqo New Energy to a “strong-buy” rating in a research note on Wednesday, August 28th. One 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $22.26.

Daqo New Energy Stock Performance

Shares of DQ opened at $17.96 on Wednesday. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -9.71 and a beta of 0.28. The stock has a fifty day moving average price of $20.49 and a two-hundred day moving average price of $18.33. Daqo New Energy Corp. has a 52-week low of $13.62 and a 52-week high of $30.85.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The company had revenue of $198.50 million for the quarter, compared to the consensus estimate of $186.90 million. During the same period in the prior year, the company earned ($0.09) EPS. As a group, research analysts predict that Daqo New Energy Corp. will post -3.5 EPS for the current fiscal year.

Daqo New Energy Company 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.