Harel Insurance Investments & Financial Services Ltd. Sells 1,180 Shares of Daqo New Energy Corp. (NYSE:DQ)

Harel Insurance Investments & Financial Services Ltd. cut its position in Daqo New Energy Corp. (NYSE:DQ) by 43.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,514 shares of the semiconductor company’s stock after selling 1,180 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Daqo New Energy were worth $29,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DQ. Rhumbline Advisers raised its position in shares of Daqo New Energy by 22.2% in the second 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 in the last quarter. Hsbc Holdings PLC lifted its position in Daqo New Energy by 47.9% during the second quarter. Hsbc Holdings PLC now owns 20,473 shares of the semiconductor company’s stock worth $299,000 after purchasing an additional 6,628 shares during the period. Marshall Wace LLP lifted its holdings in shares of Daqo New Energy by 112.3% during the 2nd quarter. Marshall Wace LLP now owns 322,635 shares of the semiconductor company’s stock worth $4,710,000 after acquiring an additional 170,660 shares during the period. AXA S.A. increased its stake in 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. Finally, Mackenzie Financial Corp raised its position in Daqo New Energy by 6.4% during the second quarter. Mackenzie Financial Corp now owns 2,496,997 shares of the semiconductor company’s stock valued at $36,456,000 after purchasing an additional 149,610 shares in the last quarter. 47.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DQ has been the topic of several recent analyst reports. Daiwa Capital Markets upgraded Daqo New Energy from a “neutral” rating to an “outperform” rating in a research note on Wednesday, October 30th. Daiwa America raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Hsbc Global Res upgraded shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, HSBC upgraded Daqo New Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $22.26.

Daqo New Energy Trading Up 2.7 %

Shares of DQ opened at $18.09 on Monday. The company has a market capitalization of $1.19 billion, a PE ratio of -9.78 and a beta of 0.26. The stock’s 50-day moving average price is $19.18 and its two-hundred day moving average price is $18.57. Daqo New Energy Corp. has a 12 month low of $13.62 and a 12 month high of $30.85.

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

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.