Mackenzie Financial Corp increased its stake in shares of Daqo New Energy Corp. (NYSE:DQ – Free Report) by 23.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,794,353 shares of the semiconductor company’s stock after buying an additional 344,616 shares during the period. Mackenzie Financial Corp’s holdings in Daqo New Energy were worth $47,730,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Toroso Investments LLC purchased a new stake in shares of Daqo New Energy in the third quarter valued at about $35,000. US Bancorp DE lifted its holdings in shares of Daqo New Energy by 89.0% in the first quarter. US Bancorp DE now owns 1,981 shares of the semiconductor company’s stock valued at $82,000 after purchasing an additional 933 shares in the last quarter. Atlas Capital Advisors LLC purchased a new stake in shares of Daqo New Energy in the second quarter valued at about $145,000. Seaport Global Advisors LLC lifted its holdings in shares of Daqo New Energy by 20.1% in the fourth quarter. Seaport Global Advisors LLC now owns 2,781 shares of the semiconductor company’s stock valued at $107,000 after purchasing an additional 465 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Daqo New Energy in the second quarter valued at about $243,000. Hedge funds and other institutional investors own 47.22% of the company’s stock.
Daqo New Energy Price Performance
NYSE:DQ opened at $23.36 on Wednesday. The firm has a 50 day simple moving average of $23.95 and a 200-day simple moving average of $24.13. The firm has a market cap of $1.53 billion, a PE ratio of 4.32 and a beta of 0.22. Daqo New Energy Corp. has a 1-year low of $17.30 and a 1-year high of $48.31.
Wall Street Analyst Weigh In
Separately, Daiwa Capital Markets reaffirmed an “underperform” rating and issued a $25.00 price target on shares of Daqo New Energy in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $36.23.
Check Out Our Latest Stock Report on DQ
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.
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