State Street Corp Has $17.17 Million Stock Holdings in Daqo New Energy Corp. (NYSE:DQ)

State Street Corp raised its stake in Daqo New Energy Corp. (NYSE:DQ) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 842,921 shares of the semiconductor company’s stock after buying an additional 8,983 shares during the quarter. State Street Corp’s holdings in Daqo New Energy were worth $17,170,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Signaturefd LLC lifted 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 acquiring an additional 602 shares in the last quarter. Blue Trust Inc. lifted its position in Daqo New Energy by 132.3% during the 3rd quarter. Blue Trust Inc. now owns 4,567 shares of the semiconductor company’s stock worth $93,000 after buying an additional 2,601 shares in the last quarter. AXA S.A. increased its position in shares of Daqo New Energy by 202.3% in the second quarter. AXA S.A. now owns 6,387 shares of the semiconductor company’s stock valued at $93,000 after acquiring an additional 4,274 shares during the last quarter. Rhumbline Advisers raised its holdings in Daqo New Energy by 22.2% during the second quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock worth $118,000 after acquiring an additional 1,470 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position 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 valued at $214,000 after purchasing an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 47.22% of the company’s stock.

Wall Street Analyst Weigh In

DQ has been the topic of several analyst reports. Roth Mkm dropped their price target on shares of Daqo New Energy from $23.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 28th. Nomura Securities raised Daqo New Energy to a “strong-buy” rating in a research report on Wednesday, August 28th. Daiwa Capital Markets raised Daqo New Energy from a “neutral” rating to an “outperform” rating in a report on Wednesday, October 30th. Hsbc Global Res upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Daiwa America raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $22.26.

Daqo New Energy Stock Up 8.0 %

Shares of Daqo New Energy stock opened at $19.20 on Wednesday. Daqo New Energy Corp. has a 12-month low of $13.62 and a 12-month high of $30.85. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -10.38 and a beta of 0.28. The firm’s 50-day moving average price is $20.29 and its two-hundred day moving average price is $18.19.

Daqo New Energy (NYSE:DQ) last released its earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $198.50 million for the quarter, compared to the consensus estimate of $186.90 million. During the same quarter in the previous year, the company earned ($0.09) earnings per share. On average, sell-side analysts expect that Daqo New Energy Corp. will post -3.5 earnings per share for the current year.

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.