Daqo New Energy Corp. (NYSE:DQ) Sees Significant Increase in Short Interest

Daqo New Energy Corp. (NYSE:DQ) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 3,940,000 shares, an increase of 11.3% from the December 15th total of 3,540,000 shares. Approximately 6.0% of the shares of the company are short sold. Based on an average trading volume of 1,400,000 shares, the short-interest ratio is presently 2.8 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Sylebra Capital LLC boosted its holdings in shares of Daqo New Energy by 103.9% in the second quarter. Sylebra Capital LLC now owns 943,692 shares of the semiconductor company’s stock worth $13,778,000 after buying an additional 480,980 shares during the period. Marshall Wace LLP raised 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 valued at $4,710,000 after purchasing an additional 170,660 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Daqo New Energy by 32.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,732 shares of the semiconductor company’s stock worth $2,765,000 after buying an additional 33,031 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Daqo New Energy during the third quarter valued at $1,053,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Daqo New Energy by 57.5% during the third quarter. BNP Paribas Financial Markets now owns 74,571 shares of the semiconductor company’s stock valued at $1,519,000 after buying an additional 27,223 shares in the last quarter. Institutional investors and hedge funds own 47.22% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Daqo New Energy Trading Up 0.7 %

DQ stock traded up $0.13 during trading hours on Friday, hitting $19.01. 758,443 shares of the stock traded hands, compared to its average volume of 744,415. The stock has a 50-day simple moving average of $19.44 and a 200 day simple moving average of $18.46. The company has a market cap of $1.26 billion, a P/E ratio of -10.28 and a beta of 0.26. 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 posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.12). Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. The business had revenue of $198.50 million for the quarter, compared to the consensus estimate of $186.90 million. During the same quarter last year, the business posted ($0.09) EPS. Analysts forecast that Daqo New Energy will post -3.5 earnings per share for the current year.

About Daqo New Energy

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.