Daqo New Energy Corp. (NYSE:DQ) Short Interest Update

Daqo New Energy Corp. (NYSE:DQ) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 3,940,000 shares, a growth of 11.3% from the December 15th total of 3,540,000 shares. Approximately 6.0% of the company’s stock are short sold. Based on an average daily trading volume, of 1,400,000 shares, the short-interest ratio is currently 2.8 days.

Analyst Ratings Changes

A number of research firms have recently weighed in on DQ. HSBC raised shares of Daqo New Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Daiwa Capital Markets upgraded Daqo New Energy from a “neutral” rating to an “outperform” rating in a report on Wednesday, October 30th. Hsbc Global Res raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Daiwa America raised shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Daqo New Energy to a “sell” rating in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Daqo New Energy currently has a consensus rating of “Buy” and an average target price of $22.26.

Institutional Trading of Daqo New Energy

Several hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC grew its position in Daqo New Energy by 27.3% in the 3rd quarter. Signaturefd LLC now owns 2,809 shares of the semiconductor company’s stock worth $57,000 after purchasing an additional 602 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Daqo New Energy by 4.3% during the 3rd quarter. Van ECK Associates Corp now owns 18,657 shares of the semiconductor company’s stock valued at $415,000 after acquiring an additional 764 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Daqo New Energy by 15.4% during the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock valued at $214,000 after purchasing an additional 1,400 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Daqo New Energy by 22.2% during the 2nd quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock worth $118,000 after buying an additional 1,470 shares during the period. Finally, Blue Trust Inc. boosted its stake in Daqo New Energy by 132.3% in the 3rd quarter. Blue Trust Inc. now owns 4,567 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 2,601 shares in the last quarter. Institutional investors own 47.22% of the company’s stock.

Daqo New Energy Stock Up 0.7 %

DQ stock traded up $0.13 during midday trading on Friday, hitting $19.01. 758,443 shares of the company traded hands, compared to its average volume of 744,415. Daqo New Energy has a twelve month low of $13.62 and a twelve month high of $30.85. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -10.28 and a beta of 0.26. The business has a 50 day simple moving average of $19.44 and a 200-day simple moving average of $18.46.

Daqo New Energy (NYSE:DQ) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. The firm had revenue of $198.50 million during the quarter, compared to analyst estimates of $186.90 million. During the same quarter in the previous year, the business posted ($0.09) earnings per share. Equities research analysts forecast that Daqo New Energy will post -3.5 EPS for the current year.

About Daqo New Energy

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.