5,324 Shares in Daqo New Energy Corp. (NYSE:DQ) Acquired by Kestra Private Wealth Services LLC

Posted by Defense World Staff on Apr 21st, 2023

Kestra Private Wealth Services LLC bought a new position in shares of Daqo New Energy Corp. (NYSE:DQ – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,324 shares of the semiconductor company’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. increased its stake in Daqo New Energy by 243.4% during the third quarter. Ronald Blue Trust Inc. now owns 546 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 387 shares during the last quarter. Toroso Investments LLC acquired a new stake in Daqo New Energy during the third quarter worth $35,000. Financial Gravity Asset Management Inc. acquired a new stake in Daqo New Energy during the third quarter worth $3,534,000. Selective Wealth Management Inc. acquired a new stake in Daqo New Energy during the third quarter worth $53,000. Finally, Quadrant Capital Group LLC increased its stake in Daqo New Energy by 35.4% during the third quarter. Quadrant Capital Group LLC now owns 1,320 shares of the semiconductor company’s stock worth $70,000 after acquiring an additional 345 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Daqo New Energy in a research note on Thursday, March 16th. They set a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Daqo New Energy presently has an average rating of “Hold” and an average price target of $75.00.

Daqo New Energy Trading Down 1.3 %

Shares of NYSE DQ opened at $44.76 on Friday. Daqo New Energy Corp. has a twelve month low of $36.03 and a twelve month high of $77.18. The stock has a fifty day simple moving average of $46.85 and a 200-day simple moving average of $47.14. The stock has a market capitalization of $3.34 billion, a PE ratio of 1.86 and a beta of 0.51.

Daqo New Energy (NYSE:DQ – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The semiconductor company reported $4.71 earnings per share for the quarter. Daqo New Energy had a return on equity of 34.82% and a net margin of 40.36%. The business had revenue of $864.25 million during the quarter, compared to analysts’ expectations of $1.13 billion. On average, equities analysts predict that Daqo New Energy Corp. will post 19.28 earnings per share for the current year.

Daqo New Energy Profile

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Daqo New Energy Corp. is a holding company, which engages in the provision of polysilicon products. It involves in the manufacture and sale of polysilicon to photovoltaic product manufactures, who further process the polysilicon into ingots, wafers, cells, and modules for solar power solutions. The company was founded by Guang Fu Xu on November 22, 2007 and is headquartered in Shanghai, China.