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

Daqo New Energy Corp. (NYSE:DQ) was the target of a significant decline in short interest in February. As of February 28th, there was short interest totalling 3,050,000 shares, a decline of 20.4% from the February 13th total of 3,830,000 shares. Based on an average daily volume of 871,300 shares, the short-interest ratio is presently 3.5 days. Approximately 4.7% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Daqo New Energy to a “sell” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Daqo New Energy has an average rating of “Buy” and an average target price of $22.26.

Daqo New Energy Stock Up 1.8 %

Shares of DQ stock opened at $19.02 on Monday. The stock has a market cap of $1.26 billion, a P/E ratio of -10.28 and a beta of 0.41. Daqo New Energy has a fifty-two week low of $13.62 and a fifty-two week high of $30.85. The business has a fifty day simple moving average of $19.71 and a 200-day simple moving average of $19.47.

Daqo New Energy (NYSE:DQ) last announced its quarterly earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($2.02). 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 $195.36 million during the quarter, compared to analysts’ expectations of $153.54 million. On average, sell-side analysts anticipate that Daqo New Energy will post -3.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. lifted its stake in shares of Daqo New Energy by 15.4% during 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 period. Van ECK Associates Corp increased its stake in Daqo New Energy by 7.6% in the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company’s stock valued at $390,000 after purchasing an additional 1,410 shares during the last quarter. CoreCommodity Management LLC lifted its position in Daqo New Energy by 1.6% during the fourth quarter. CoreCommodity Management LLC now owns 134,888 shares of the semiconductor company’s stock worth $2,622,000 after buying an additional 2,183 shares during the period. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Daqo New Energy in the 4th quarter worth about $52,000. Finally, Geode Capital Management LLC grew its holdings in Daqo New Energy by 9.2% in the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company’s stock valued at $683,000 after buying an additional 2,813 shares during the period. 47.22% of the stock is currently owned by hedge funds and other institutional investors.

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.