Guinness Asset Management Ltd boosted its holdings in Daqo New Energy Corp (NYSE:DQ) by 87.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,800 shares of the semiconductor company’s stock after purchasing an additional 6,900 shares during the period. Guinness Asset Management Ltd owned approximately 0.14% of Daqo New Energy worth $386,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of DQ. Mount Yale Investment Advisors LLC bought a new position in shares of Daqo New Energy during the first quarter valued at about $168,000. Royal Bank of Canada raised its stake in shares of Daqo New Energy by 554.9% during the first quarter. Royal Bank of Canada now owns 4,735 shares of the semiconductor company’s stock valued at $232,000 after acquiring an additional 4,012 shares during the last quarter. Guinness Atkinson Asset Management Inc raised its stake in shares of Daqo New Energy by 45.8% during the third quarter. Guinness Atkinson Asset Management Inc now owns 10,500 shares of the semiconductor company’s stock valued at $274,000 after acquiring an additional 3,300 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Daqo New Energy by 51.4% during the second quarter. Bank of Montreal Can now owns 9,242 shares of the semiconductor company’s stock valued at $328,000 after acquiring an additional 3,136 shares during the last quarter. Finally, Northern Trust Corp bought a new position in shares of Daqo New Energy during the second quarter valued at about $351,000. 42.55% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:DQ opened at $27.80 on Wednesday. The stock has a market cap of $274.63 million, a PE ratio of 3.27 and a beta of 1.33. The company has a quick ratio of 1.06, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. Daqo New Energy Corp has a 12 month low of $24.02 and a 12 month high of $72.50.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings data on Tuesday, August 7th. The semiconductor company reported $1.36 EPS for the quarter, beating the consensus estimate of $0.90 by $0.46. The firm had revenue of $66.95 million during the quarter, compared to the consensus estimate of $62.70 million. Daqo New Energy had a net margin of 28.32% and a return on equity of 23.80%. On average, equities analysts anticipate that Daqo New Energy Corp will post 2.64 earnings per share for the current year.

Several equities analysts have recently commented on DQ shares. Roth Capital raised shares of Daqo New Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $40.00 to $48.00 in a research note on Wednesday, August 8th. ValuEngine downgraded shares of Daqo New Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Finally, Credit Suisse Group started coverage on shares of Daqo New Energy in a research note on Friday, August 24th. They set an “outperform” rating and a $58.00 price objective for the company. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $56.67.

About Daqo New Energy

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon and wafers in the People's Republic of China. It operates through two segments, Polysilicon and Wafers. The company offers polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.

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

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