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

Daqo New Energy Corp. (NYSE:DQ - Get Free Report) was the recipient of a large decline in short interest in December. As of December 15th, there was short interest totalling 3,540,000 shares, a decline of 6.1% from the November 30th total of 3,770,000 shares. Approximately 5.4% of the company's stock are sold short. Based on an average daily trading volume, of 1,520,000 shares, the short-interest ratio is currently 2.3 days.

Analysts Set New Price Targets

DQ has been the topic of several analyst reports. HSBC raised Daqo New Energy from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. 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 shares of Daqo New Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 2nd. StockNews.com upgraded shares of Daqo New Energy to a "sell" rating in a report on Monday, September 23rd. Finally, Daiwa Capital Markets upgraded shares of Daqo New Energy from a "neutral" rating to an "outperform" rating in a report on Wednesday, October 30th. 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 given a strong buy rating to the company. According to MarketBeat.com, Daqo New Energy presently has a consensus rating of "Buy" and a consensus price target of $22.26.

Institutional Trading of Daqo New Energy

Several institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp grew its stake in Daqo New Energy by 6.4% during the second quarter. Mackenzie Financial Corp now owns 2,496,997 shares of the semiconductor company's stock valued at $36,456,000 after acquiring an additional 149,610 shares in the last quarter. Sylebra Capital LLC boosted its holdings in shares of Daqo New Energy by 103.9% during the 2nd quarter. Sylebra Capital LLC now owns 943,692 shares of the semiconductor company's stock valued at $13,778,000 after purchasing an additional 480,980 shares during the last quarter. State Street Corp grew its position in shares of Daqo New Energy by 1.1% during the third quarter. State Street Corp now owns 842,921 shares of the semiconductor company's stock valued at $17,170,000 after purchasing an additional 8,983 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Daqo New Energy in the second quarter worth about $11,080,000. Finally, Marshall Wace LLP lifted its position in shares of Daqo New Energy by 112.3% in the second quarter. Marshall Wace LLP now owns 322,635 shares of the semiconductor company's stock worth $4,710,000 after buying an additional 170,660 shares in the last quarter. Hedge funds and other institutional investors own 47.22% of the company's stock.

Daqo New Energy Price Performance

Shares of NYSE:DQ traded up $0.05 during midday trading on Wednesday, hitting $19.44. The company had a trading volume of 659,880 shares, compared to its average volume of 1,157,025. Daqo New Energy has a 12-month low of $13.62 and a 12-month high of $30.85. The company has a fifty day moving average of $20.30 and a two-hundred day moving average of $18.17. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -10.51 and a beta of 0.28.

Daqo New Energy (NYSE:DQ - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company 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 firm posted ($0.09) earnings per share. Research analysts expect that Daqo New Energy will post -3.5 earnings per share for the current fiscal 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.