Pictet Asset Management SA reduces the stock position in Daco New Energy Corp. (NYSE: DQ)

Pictet Asset Management SA decreased Dako New Energy Corp. (NYSE: DQ – GATE Rating) by 1.1% in the second quarter, HoldingsChannel.com reports. The institutional investor held 72,911 shares of the semiconductor company’s stock after selling 789 shares during the period. Pictet Asset Management SA’s holding in Dako New Energy was worth $5,204,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also changed their positions in the company. Ensign Peak Advisors Inc raised its stake in Dako New Energy by 6.3% in the first quarter. Ensign Peak Advisors Inc. now owns 4,250 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 250 shares during the period. JJJ Advisors Inc. increased its stake in Dako New Energy shares to 99.0% in the first quarter. After acquiring an additional 298 shares during this period, JJJ Advisors Inc. holds 599 shares of semiconductor company stock valued at $25,000. Quadrant Capital Group LLC increased its stake in Dako New Energy shares to 80.5% in the first quarter. Quadrant Capital Group LLC now owns 1,139 shares of the semiconductor company worth $47,000 after acquiring an additional 508 shares during the last quarter. FNY Investment Advisors LLC purchased a new position in shares of Dako New Energy valued at approximately $40,000 during the second quarter. Finally, Caisse de Depot ET Placement du Québec raised its stake in Dako New Energy by 6.2% in the first quarter. Seisse de depot et placement du Québec now owns 10,850 shares of the semiconductor company’s stock valued at $448,000 after buying an additional 638 shares during the last quarter.

Wall Street analysts forecast growth

Several research analysts have commented on the company. Daiwa Capital Markets cut Dako New Energy from “Outperform” rating to “Neutral” rating in a research note on Thursday, September 15. StockNews.com began coverage on Dako New Energy in a report on Wednesday, October 12. They set a “Buy” rating for the company.

Daco New Energy Stock Down 4.6%

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Shares of DQ stock opened on Friday at $53.09. The firm has a 50-day moving average of $51.93 and a two-hundred-day moving average of $57.50. The stock has a market capitalization of $3.96 billion, a PE ratio of 2.49, and a beta of 0.31. Daqo New Energy Corp. The 52-week low is $32.20 and the 52-week high is $77.18.

About Daco New Energy

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Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon for making photovoltaic products in the People’s Republic of China. Its products are used in ingots, wafers, cells and modules for solar energy solutions. The company was earlier known as Mega Stand International Limited and was renamed as Dako New Energy Corp.

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Want to see which other hedge funds are holding DQ? Daqo New Energy Corp. (NYSE:DQ – Get Rating) Visit HoldingsChannel.com to get the latest 13F filings and insider trades.

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

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