Waterfront Wealth Inc. Cuts Stock Holdings in Daqo New Energy Corp. (NYSE:DQ)

Waterfront Wealth Inc. decreased its stake in shares of Daqo New Energy Corp. (NYSE:DQ) by 34.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 89,918 shares of the semiconductor company’s stock after selling 47,132 shares during the period. Waterfront Wealth Inc.’s holdings in Daqo New Energy were worth $1,748,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Signaturefd LLC boosted 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 valued at $57,000 after buying an additional 602 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Daqo New Energy by 4.3% during the third quarter. Van ECK Associates Corp now owns 18,657 shares of the semiconductor company’s stock valued at $415,000 after buying an additional 764 shares during the last quarter. Daiwa Securities Group Inc. boosted 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 valued at $214,000 after buying an additional 1,400 shares during the last quarter. Blue Trust Inc. boosted 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 valued at $93,000 after buying an additional 2,601 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Daqo New Energy by 9.2% during the third quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock valued at $683,000 after buying an additional 2,813 shares during the last quarter. Hedge funds and other institutional investors own 47.22% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on DQ shares. Daiwa America upgraded Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Daiwa Capital Markets upgraded Daqo New Energy from a “neutral” rating to an “outperform” 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $22.26.

Daqo New Energy Price Performance

Shares of DQ opened at $22.66 on Friday. The firm has a market cap of $1.50 billion, a PE ratio of -12.25 and a beta of 0.25. The stock’s fifty day moving average price is $19.40 and its two-hundred day moving average price is $18.98. Daqo New Energy Corp. has a 1 year low of $13.62 and a 1 year high of $30.85.

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.