Daqo New Energy Corp. (NYSE:DQ) Sees Large Decrease in Short Interest

Daqo New Energy Corp. (NYSE:DQ - Get Free Report) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 3,050,000 shares, a decrease of 20.4% from the February 13th total of 3,830,000 shares. Currently, 4.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 871,300 shares, the short-interest ratio is presently 3.5 days.

Daqo New Energy Stock Down 3.3 %

Shares of Daqo New Energy stock traded down $0.66 during trading on Friday, reaching $19.31. The company's stock had a trading volume of 894,150 shares, compared to its average volume of 1,027,978. Daqo New Energy has a 52-week low of $13.62 and a 52-week high of $30.85. The firm's 50-day moving average is $19.63 and its two-hundred day moving average is $19.55. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -10.44 and a beta of 0.41.

Daqo New Energy (NYSE:DQ - Get Free Report) last posted 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 for the quarter, compared to analysts' expectations of $153.54 million. On average, equities research analysts anticipate that Daqo New Energy will post -3.5 EPS for the current year.

Remove Ads

Institutional Trading of Daqo New Energy

Several hedge funds and other institutional investors have recently bought and sold shares of DQ. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Daqo New Energy in the fourth quarter worth $52,000. Daiwa Securities Group Inc. grew its holdings in Daqo New Energy by 15.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company's stock worth $214,000 after acquiring an additional 1,400 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Daqo New Energy by 66.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,000 shares of the semiconductor company's stock valued at $285,000 after acquiring an additional 5,570 shares during the period. Diametric Capital LP raised its stake in shares of Daqo New Energy by 25.5% during the fourth quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company's stock valued at $311,000 after acquiring an additional 3,255 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Daqo New Energy by 7.6% during the fourth quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company's stock worth $390,000 after purchasing an additional 1,410 shares during the period. Institutional investors own 47.22% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Daqo New Energy to a "sell" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $22.26.

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.