By otakuyassine3@gmail.com 
Daqo New Energy Corp. (NYSE:DQ – Get Free Report) saw a large decline in short interest in 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 trading volume, of 1,520,000 shares, the days-to-cover ratio is presently 2.3 days. Approximately 5.4% of the company’s shares are short sold.
Daqo New Energy Price Performance
NYSE DQ traded up $0.05 on Wednesday, hitting $19.44. 659,880 shares of the stock were exchanged, compared to its average volume of 1,157,025. The business’s fifty day moving average is $20.30 and its 200 day moving average is $18.17. Daqo New Energy has a 52 week low of $13.62 and a 52 week high of $30.85. The company has a market capitalization of $1.28 billion, a PE ratio of -10.51 and a beta of 0.28.
Daqo New Energy (NYSE:DQ – Get Free Report) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.12). Daqo New Energy had a negative return on equity of 1.90% and a negative net margin of 9.16%. The business had revenue of $198.50 million for the quarter, compared to the consensus estimate of $186.90 million. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. Analysts predict that Daqo New Energy will post -3.5 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the company. Hsbc Global Res raised Daqo New Energy from a “hold” rating to a “strong-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. StockNews.com raised Daqo New Energy to a “sell” rating in a research note on Monday, September 23rd. Daiwa America upgraded shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, HSBC upgraded shares of Daqo New Energy from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $22.26.
Read Our Latest Report on Daqo New Energy
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DQ. Sylebra Capital LLC increased its holdings in shares of Daqo New Energy by 103.9% during the second 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 stake in Daqo New Energy by 112.3% during the 2nd quarter. Marshall Wace LLP now owns 322,635 shares of the semiconductor company’s stock worth $4,710,000 after acquiring an additional 170,660 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Daqo New Energy by 32.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company’s stock valued at $2,765,000 after acquiring an additional 33,031 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Daqo New Energy in the 3rd quarter valued at $1,053,000. Finally, BNP Paribas Financial Markets increased its position in shares of Daqo New Energy by 57.5% in the third quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company’s stock worth $1,519,000 after purchasing an additional 27,223 shares during the period. 47.22% of the stock is owned by institutional investors and hedge funds.
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.
Featured Stories
Receive News & Ratings for Daqo New Energy Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Daqo New Energy and related companies with MarketBeat.com’s FREE daily email newsletter.