Credit Agricole S A Acquires New Position in Daqo New Energy Corp (DQ)

Credit Agricole S A acquired a new stake in shares of Daqo New Energy Corp (NYSE:DQ) during the fourth quarter, Holdings Channel reports. The firm acquired 30,892 shares of the company’s stock, valued at approximately $596,000. Credit Agricole S A owned approximately 0.29% of Daqo New Energy Corp as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DQ. Quentec Asset Management LLC increased its stake in shares of Daqo New Energy Corp by 4.9% in the third quarter. Quentec Asset Management LLC now owns 844,251 shares of the company’s stock valued at $17,898,000 after buying an additional 39,308 shares during the last quarter. Oxford Asset Management purchased a new stake in shares of Daqo New Energy Corp during the fourth quarter valued at approximately $482,000. Hsbc Holdings PLC increased its stake in shares of Daqo New Energy Corp by 10.9% in the third quarter. Hsbc Holdings PLC now owns 276,650 shares of the company’s stock valued at $5,865,000 after buying an additional 27,100 shares during the last quarter. ClariVest Asset Management LLC increased its stake in shares of Daqo New Energy Corp by 51.6% in the third quarter. ClariVest Asset Management LLC now owns 10,466 shares of the company’s stock valued at $222,000 after buying an additional 3,561 shares during the last quarter. Finally, Navellier & Associates Inc purchased a new stake in shares of Daqo New Energy Corp during the third quarter valued at approximately $368,000. Institutional investors and hedge funds own 32.42% of the company’s stock.

Institutional Ownership by Quarter for Daqo New Energy Corp (NYSE:DQ)

Shares of Daqo New Energy Corp (NYSE:DQ) opened at 22.10 on Monday. Daqo New Energy Corp has a 52 week low of $16.03 and a 52 week high of $27.60. The firm has a 50-day moving average of $24.21 and a 200 day moving average of $22.59. The company has a market cap of $232.23 million, a P/E ratio of 5.53 and a beta of 1.79.

Daqo New Energy Corp (NYSE:DQ) last announced its quarterly earnings results on Tuesday, March 7th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by $0.43. Daqo New Energy Corp had a net margin of 21.05% and a return on equity of 21.67%. During the same quarter in the prior year, the business earned $0.91 EPS. Equities analysts anticipate that Daqo New Energy Corp will post $6.85 earnings per share for the current fiscal year.

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DQ has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Daqo New Energy Corp from a “hold” rating to a “strong-buy” rating and set a $22.00 target price for the company in a research note on Tuesday, January 3rd. Roth Capital set a $35.00 target price on shares of Daqo New Energy Corp and gave the company a “buy” rating in a research note on Monday, March 6th. Finally, Craig Hallum initiated coverage on shares of Daqo New Energy Corp in a research note on Thursday, January 26th. They issued a “buy” rating and a $40.00 target price for the company.

About Daqo New Energy Corp

Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company’s segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions.

5 Day Chart for NYSE:DQ

Want to see what other hedge funds are holding DQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Daqo New Energy Corp (NYSE:DQ).

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