Short Interest in Daqo New Energy Corp. (NYSE:DQ) Decreases By 6.1%

Daqo New Energy Corp. (NYSE:DQ) saw a significant decrease in short interest in the month of 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 trading volume, of 1,520,000 shares, the short-interest ratio is currently 2.3 days. Currently, 5.4% of the company’s shares are sold short.

Institutional Investors Weigh In On Daqo New Energy

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in Daqo New Energy by 9.2% during the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock valued at $683,000 after purchasing an additional 2,813 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Daqo New Energy during the third quarter valued at approximately $1,053,000. Wellington Management Group LLP increased its position in shares of Daqo New Energy by 26.0% during the third quarter. Wellington Management Group LLP now owns 128,422 shares of the semiconductor company’s stock valued at $2,616,000 after acquiring an additional 26,462 shares in the last quarter. Wexford Capital LP raised its holdings in Daqo New Energy by 395.7% in the 3rd quarter. Wexford Capital LP now owns 164,809 shares of the semiconductor company’s stock worth $3,357,000 after acquiring an additional 131,564 shares during the last quarter. Finally, State Street Corp lifted its position in Daqo New Energy by 1.1% in the 3rd quarter. State Street Corp now owns 842,921 shares of the semiconductor company’s stock valued at $17,170,000 after acquiring an additional 8,983 shares in the last quarter. Institutional investors own 47.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DQ shares. 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 report on Monday, September 23rd. 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 Global Res raised Daqo New Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, HSBC raised shares of Daqo New Energy from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $22.26.

Daqo New Energy Stock Performance

NYSE:DQ traded up $0.05 during trading hours on Wednesday, reaching $19.44. The company’s stock had a trading volume of 659,880 shares, compared to its average volume of 1,157,025. The firm has a 50-day simple moving average of $20.30 and a 200-day simple moving average of $18.17. Daqo New Energy has a 1 year low of $13.62 and a 1 year high of $30.85. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -10.51 and a beta of 0.28.

Daqo New Energy (NYSE:DQ) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.12). The business had revenue of $198.50 million for the quarter, compared to the consensus estimate 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 prior year, the company earned ($0.09) EPS. Equities analysts anticipate that Daqo New Energy will post -3.5 earnings per share for the current fiscal year.

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.