Harel Insurance Investments & Financial Services Ltd. Has $211,000 Stock Position in Daqo New Energy Corp. (NYSE:DQ)

Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Daqo New Energy Corp. (NYSE:DQ) by 37.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,442 shares of the semiconductor company’s stock after acquiring an additional 3,970 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Daqo New Energy were worth $211,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in shares of Daqo New Energy by 12,187.5% during the 2nd quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 1,950 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Daqo New Energy by 117.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 858 shares during the period. Quadrant Capital Group LLC boosted its stake in Daqo New Energy by 39.4% in the 4th quarter. Quadrant Capital Group LLC now owns 2,348 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 664 shares during the period. Signaturefd LLC boosted its stake in Daqo New Energy by 112.4% in the 4th quarter. Signaturefd LLC now owns 6,839 shares of the semiconductor company’s stock valued at $182,000 after purchasing an additional 3,619 shares during the period. Finally, Daiwa Securities Group Inc. bought a new stake in Daqo New Energy in the 1st quarter valued at $256,000. 47.22% of the stock is currently owned by institutional investors.

Daqo New Energy Trading Down 4.1 %

Shares of DQ traded down $0.65 on Tuesday, reaching $15.16. 290,752 shares of the company’s stock traded hands, compared to its average volume of 1,064,913. The stock has a market cap of $1.00 billion, a PE ratio of 7.42 and a beta of 0.28. The stock’s 50 day simple moving average is $16.73 and its two-hundred day simple moving average is $20.38. Daqo New Energy Corp. has a 52-week low of $14.21 and a 52-week high of $37.92.

Daqo New Energy declared that its board has approved a share buyback program on Monday, July 22nd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 8.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Daqo New Energy in a report on Thursday, July 11th. They set a “buy” rating for the company. Roth Mkm reaffirmed a “neutral” rating and issued a $23.00 target price on shares of Daqo New Energy in a report on Tuesday, April 30th. HSBC reaffirmed a “reduce” rating and issued a $17.50 target price (down previously from $23.50) on shares of Daqo New Energy in a report on Monday, May 6th. Finally, StockNews.com lowered Daqo New Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Daqo New Energy presently has an average rating of “Hold” and an average price target of $21.83.

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.