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

Daqo New Energy Corp. (NYSE:DQ - Get Free Report) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 3,570,000 shares, a drop of 9.6% from the September 15th total of 3,950,000 shares. Approximately 5.5% of the company's shares are short sold. Based on an average trading volume of 921,000 shares, the short-interest ratio is presently 3.9 days.

Analysts Set New Price Targets

A number of brokerages have commented on DQ. Nomura Securities upgraded Daqo New Energy to a "strong-buy" rating in a research note on Wednesday, August 28th. The Goldman Sachs Group started coverage on Daqo New Energy in a research report on Thursday, July 11th. They set a "buy" rating on the stock. Jefferies Financial Group decreased their price target on Daqo New Energy from $38.40 to $34.05 and set a "buy" rating for the company in a report on Monday, August 26th. HSBC upgraded shares of Daqo New Energy from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. Finally, Daiwa Capital Markets restated a "hold" rating and issued a $25.00 target price (up from $18.00) on shares of Daqo New Energy in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.26.

Daqo New Energy Stock Down 5.3 %

Shares of DQ traded down $1.00 during trading on Thursday, reaching $17.90. The company's stock had a trading volume of 1,086,439 shares, compared to its average volume of 1,066,481. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 8.40 and a beta of 0.32. The company has a fifty day moving average of $17.23 and a two-hundred day moving average of $18.76. Daqo New Energy has a twelve month low of $13.62 and a twelve month high of $30.03.

Daqo New Energy (NYSE:DQ - Get Free Report) last posted its quarterly earnings results on Monday, August 26th. The semiconductor company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($1.25). The company had revenue of $219.91 million during the quarter, compared to analyst estimates of $406.50 million. Daqo New Energy had a negative net margin of 4.11% and a negative return on equity of 1.04%. During the same period in the prior year, the company earned $1.34 earnings per share. As a group, equities analysts forecast that Daqo New Energy will post -3.35 EPS for the current fiscal year.

Daqo New Energy announced that its Board of Directors has authorized a stock buyback plan on Monday, July 22nd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the semiconductor company to repurchase up to 8.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of DQ. PNC Financial Services Group Inc. raised its stake in Daqo New Energy by 117.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,588 shares of the semiconductor company's stock worth $42,000 after acquiring an additional 858 shares during the period. Rhumbline Advisers raised its position in shares of Daqo New Energy by 22.2% during the 2nd quarter. Rhumbline Advisers now owns 8,104 shares of the semiconductor company's stock worth $118,000 after purchasing an additional 1,470 shares during the period. Shell Asset Management Co. lifted its holdings in shares of Daqo New Energy by 20.6% in the 1st quarter. Shell Asset Management Co. now owns 10,734 shares of the semiconductor company's stock worth $302,000 after purchasing an additional 1,834 shares during the last quarter. Blue Trust Inc. boosted its position in Daqo New Energy by 12,187.5% during the 2nd quarter. Blue Trust Inc. now owns 1,966 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 1,950 shares during the period. Finally, Boston Partners grew its stake in Daqo New Energy by 3.3% during the 1st quarter. Boston Partners now owns 78,340 shares of the semiconductor company's stock worth $2,205,000 after buying an additional 2,538 shares during the last quarter. Institutional investors own 47.22% of the company's stock.

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.

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