Daqo New Energy Corp. (NYSE:DQ) Short Interest Down 6.1% in December

Daqo New Energy Corp. (NYSE:DQ) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 3,540,000 shares, a decline of 6.1% from the November 30th total of 3,770,000 shares. Based on an average daily volume of 1,520,000 shares, the short-interest ratio is currently 2.3 days. Currently, 5.4% of the shares of the company are sold short.

Daqo New Energy Trading Up 0.3 %

Shares of NYSE:DQ traded up $0.05 during midday trading on Wednesday, reaching $19.44. 659,880 shares of the company were exchanged, compared to its average volume of 1,157,025. The stock has a market cap of $1.28 billion, a PE ratio of -10.51 and a beta of 0.28. The business’s fifty day moving average is $20.30 and its two-hundred day moving average is $18.17. Daqo New Energy has a one year low of $13.62 and a one year high of $30.85.

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

Institutional Trading of Daqo New Energy

A number of large investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new stake in Daqo New Energy during the second quarter worth approximately $11,080,000. Sylebra Capital LLC boosted its holdings in shares of Daqo New Energy by 103.9% in the 2nd quarter. Sylebra Capital LLC now owns 943,692 shares of the semiconductor company’s stock worth $13,778,000 after purchasing an additional 480,980 shares during the period. Marshall Wace LLP increased its position in shares of Daqo New Energy by 112.3% during the 2nd quarter. Marshall Wace LLP now owns 322,635 shares of the semiconductor company’s stock valued at $4,710,000 after purchasing an additional 170,660 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Daqo New Energy by 6.4% during the 2nd quarter. Mackenzie Financial Corp now owns 2,496,997 shares of the semiconductor company’s stock valued at $36,456,000 after buying an additional 149,610 shares during the period. Finally, Wexford Capital LP lifted its position in Daqo New Energy by 395.7% in the third quarter. Wexford Capital LP now owns 164,809 shares of the semiconductor company’s stock worth $3,357,000 after buying an additional 131,564 shares during the last quarter. Institutional investors own 47.22% of the company’s stock.

Analyst Upgrades and Downgrades

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

Daqo New Energy Company Profile

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.