Waterfront Wealth Inc. Sells 47,132 Shares of Daqo New Energy Corp. (NYSE:DQ)

Waterfront Wealth Inc. trimmed its stake in shares of Daqo New Energy Corp. (NYSE:DQ) by 34.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,918 shares of the semiconductor company’s stock after selling 47,132 shares during the quarter. Waterfront Wealth Inc. owned approximately 0.14% of Daqo New Energy worth $1,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Signaturefd LLC raised its position in shares of Daqo New Energy by 27.3% during the third quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock worth $57,000 after acquiring an additional 602 shares during the last quarter. Blue Trust Inc. raised its position in shares of Daqo New Energy by 132.3% during the third quarter. Blue Trust Inc. now owns 4,567 shares of the semiconductor company’s stock worth $93,000 after acquiring an additional 2,601 shares during the last quarter. Daiwa Securities Group Inc. raised its position 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 worth $214,000 after acquiring an additional 1,400 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Daqo New Energy by 66.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,000 shares of the semiconductor company’s stock worth $285,000 after acquiring an additional 5,570 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Daqo New Energy by 7.6% during the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock worth $390,000 after acquiring an additional 1,410 shares during the last quarter. 47.22% of the stock is currently owned by institutional investors.

Daqo New Energy Stock Performance

Shares of Daqo New Energy stock opened at $22.66 on Friday. Daqo New Energy Corp. has a 52 week low of $13.62 and a 52 week high of $30.85. The stock has a 50 day moving average price of $19.40 and a two-hundred day moving average price of $18.98. The stock has a market capitalization of $1.50 billion, a PE ratio of -12.25 and a beta of 0.25.

Analyst Ratings Changes

DQ has been the subject of several recent analyst reports. Daiwa America raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Daiwa Capital Markets raised Daqo New Energy from a “neutral” rating to an “outperform” rating in a research note on Wednesday, October 30th. 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 stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price 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.