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. Based on an average daily trading volume, of 1,400,000 shares, the short-interest ratio is presently 2.8 days. Approximately 6.0% of the company’s stock are sold short.

Daqo New Energy Stock Performance

NYSE DQ traded up $0.13 on Monday, reaching $19.01. The stock had a trading volume of 758,443 shares, compared to its average volume of 744,415. The stock has a market cap of $1.26 billion, a P/E ratio of -10.28 and a beta of 0.26. The business’s 50-day moving average price is $19.44 and its 200 day moving average price is $18.48. Daqo New Energy has a 12-month low of $13.62 and a 12-month high of $30.85.

Daqo New Energy (NYSE:DQ) last released its quarterly 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 business had revenue of $198.50 million during 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 last year, the company earned ($0.09) EPS. On average, sell-side analysts predict that Daqo New Energy will post -3.5 earnings per share for the current year.

Hedge Funds Weigh In On Daqo New Energy

Institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its stake in shares of Daqo New Energy by 22.2% in the 2nd quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company’s stock worth $118,000 after acquiring an additional 1,470 shares during the period. American Century Companies Inc. lifted its position in Daqo New Energy by 6.9% in the second quarter. American Century Companies Inc. now owns 170,368 shares of the semiconductor company’s stock valued at $2,487,000 after purchasing an additional 10,942 shares during the period. Hsbc Holdings PLC boosted its holdings in Daqo New Energy by 47.9% in the 2nd quarter. Hsbc Holdings PLC now owns 20,473 shares of the semiconductor company’s stock valued at $299,000 after purchasing an additional 6,628 shares in the last quarter. Marshall Wace LLP increased its position 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 purchasing an additional 170,660 shares during the period. Finally, AXA S.A. raised its stake in shares of Daqo New Energy by 202.3% during the 2nd quarter. AXA S.A. now owns 6,387 shares of the semiconductor company’s stock worth $93,000 after buying an additional 4,274 shares in the last quarter. Institutional investors and hedge funds own 47.22% of the company’s stock.

Wall Street Analysts Forecast Growth

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