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

Daqo New Energy Corp. (NYSE:DQ) was the recipient of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 3,540,000 shares, a decrease 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 presently 2.3 days. Currently, 5.4% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

DQ has been the subject of several analyst reports. Daiwa Capital Markets upgraded Daqo New Energy from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 30th. 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. HSBC raised shares of Daqo New Energy from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Hsbc Global Res upgraded shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com raised 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 assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Daqo New Energy has an average rating of “Buy” and an average price target of $22.26.

Daqo New Energy Price Performance

DQ opened at $19.44 on Thursday. The company’s 50 day simple moving average is $20.24 and its 200-day simple moving average is $18.18. Daqo New Energy has a one year low of $13.62 and a one year high of $30.85. The stock has a market capitalization of $1.28 billion, a P/E ratio of -10.51 and a beta of 0.28.

Daqo New Energy (NYSE:DQ) last released 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). The firm had revenue of $198.50 million during the quarter, compared to analyst estimates 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 period last year, the business posted ($0.09) earnings per share. As a group, analysts anticipate that Daqo New Energy will post -3.5 EPS for the current year.

Institutional Inflows and Outflows

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

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.