Janney Montgomery Scott LLC Makes New Investment in Daqo New Energy Corp. (NYSE:DQ)

Posted by on Apr 21st, 2023

Janney Montgomery Scott LLC bought a new position in shares of Daqo New Energy Corp. (NYSE:DQ – Get Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 154,510 shares of the semiconductor company’s stock, valued at approximately $5,966,000. Janney Montgomery Scott LLC owned about 0.21% of Daqo New Energy at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DQ. HBK Sorce Advisory LLC bought a new position in shares of Daqo New Energy during the 3rd quarter worth about $28,000. Toroso Investments LLC bought a new position in shares of Daqo New Energy during the 3rd quarter worth about $35,000. Ronald Blue Trust Inc. increased its holdings in shares of Daqo New Energy by 243.4% during the 3rd quarter. Ronald Blue Trust Inc. now owns 546 shares of the semiconductor company’s stock worth $39,000 after purchasing an additional 387 shares during the period. Selective Wealth Management Inc. bought a new position in shares of Daqo New Energy during the 3rd quarter worth about $53,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of Daqo New Energy by 35.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,320 shares of the semiconductor company’s stock worth $70,000 after purchasing an additional 345 shares during the period.

Analysts Set New Price Targets

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

Daqo New Energy Stock Down 1.3 %

NYSE DQ opened at $44.76 on Friday. The stock has a market cap of $3.34 billion, a P/E ratio of 1.86 and a beta of 0.51. The company’s 50-day simple moving average is $46.85 and its 200 day simple moving average is $47.14. Daqo New Energy Corp. has a twelve month low of $36.03 and a twelve month high of $77.18.

Daqo New Energy (NYSE:DQ – Get Rating) last posted its earnings results on Tuesday, February 28th. The semiconductor company reported $4.71 earnings per share for the quarter. The business had revenue of $864.25 million for the quarter, compared to analysts’ expectations of $1.13 billion. Daqo New Energy had a net margin of 40.36% and a return on equity of 34.82%. Research analysts anticipate 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.

Further Reading

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

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