154,421 Shares in DAQO New Energy Corp. $DQ Bought by Renaissance Technologies LLC

Renaissance Technologies LLC purchased a new stake in DAQO New Energy Corp. (NYSE:DQ) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 154,421 shares of the semiconductor company’s stock, valued at approximately $3,285,000.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of DAQO New Energy by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 1,753,947 shares of the semiconductor company’s stock valued at $51,741,000 after purchasing an additional 15,159 shares during the last quarter. Invesco Ltd. boosted its holdings in DAQO New Energy by 22.6% during the fourth quarter. Invesco Ltd. now owns 1,429,565 shares of the semiconductor company’s stock worth $42,172,000 after purchasing an additional 263,614 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in DAQO New Energy by 9.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,316,140 shares of the semiconductor company’s stock worth $38,934,000 after purchasing an additional 110,186 shares during the last quarter. Goldman Sachs Group Inc. grew its position in DAQO New Energy by 117.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock worth $21,005,000 after purchasing an additional 625,900 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in DAQO New Energy in the 3rd quarter worth about $18,280,000. 47.22% of the stock is currently owned by institutional investors.

DAQO New Energy Stock Performance

NYSE DQ opened at $14.77 on Friday. The company has a market capitalization of $999.42 million, a PE ratio of -5.31 and a beta of 0.66. DAQO New Energy Corp. has a 52-week low of $11.38 and a 52-week high of $36.59. The company has a 50-day simple moving average of $13.41 and a 200 day simple moving average of $19.03.

Wall Street Analysts Forecast Growth

Several research firms have commented on DQ. Zacks Research upgraded shares of DAQO New Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Wall Street Zen lowered DAQO New Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, May 2nd. Roth Capital set a $19.00 price target on DAQO New Energy in a research report on Thursday, April 30th. JPMorgan Chase & Co. dropped their price target on DAQO New Energy from $35.50 to $22.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Finally, Weiss Ratings cut DAQO New Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $22.35.

About DAQO New Energy

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.