FengHe Fund Management Pte. Ltd. Has $4.98 Million Stock Position in Daqo New Energy Corp. (NYSE:DQ)

FengHe Fund Management Pte. Ltd. reduced its stake in Daqo New Energy Corp. (NYSE:DQ) by 51.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 256,076 shares of the semiconductor company’s stock after selling 272,760 shares during the period. Daqo New Energy makes up about 1.5% of FengHe Fund Management Pte. Ltd.’s portfolio, making the stock its 11th biggest position. FengHe Fund Management Pte. Ltd.’s holdings in Daqo New Energy were worth $4,978,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ariose Capital Management Ltd lifted its stake in Daqo New Energy by 27.5% in the fourth quarter. Ariose Capital Management Ltd now owns 1,505,709 shares of the semiconductor company’s stock valued at $29,271,000 after buying an additional 324,585 shares during the period. State Street Corp lifted its stake in Daqo New Energy by 1.1% in the third quarter. State Street Corp now owns 842,921 shares of the semiconductor company’s stock valued at $17,170,000 after buying an additional 8,983 shares during the period. Wexford Capital LP lifted its stake in Daqo New Energy by 395.7% in the third quarter. Wexford Capital LP now owns 164,809 shares of the semiconductor company’s stock valued at $3,357,000 after buying an additional 131,564 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Daqo New Energy by 32.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company’s stock valued at $2,765,000 after buying an additional 33,031 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Daqo New Energy by 26.0% in the third quarter. Wellington Management Group LLP now owns 128,422 shares of the semiconductor company’s stock valued at $2,616,000 after buying an additional 26,462 shares during the period. 47.22% of the stock is owned by institutional investors and hedge funds.

Daqo New Energy Trading Down 0.5 %

Shares of NYSE:DQ opened at $21.56 on Monday. The stock’s fifty day simple moving average is $19.13 and its two-hundred day simple moving average is $18.84. Daqo New Energy Corp. has a 1-year low of $13.62 and a 1-year high of $30.85. The stock has a market cap of $1.42 billion, a PE ratio of -11.65 and a beta of 0.25.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Daiwa America raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Daiwa Capital Markets raised Daqo New Energy from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Daqo New Energy presently has an average rating of “Buy” and a consensus target price of $22.26.

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.