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

Daqo New Energy Corp. (NYSE:DQ) was the recipient of a large decrease in short interest in 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. Based on an average daily trading volume, of 871,300 shares, the days-to-cover ratio is currently 3.5 days. Approximately 4.7% of the shares of the company are sold short.

Institutional Investors Weigh In On Daqo New Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in shares of Daqo New Energy in the fourth quarter valued at about $52,000. Daiwa Securities Group Inc. increased its stake in shares of Daqo New Energy by 15.4% in the third quarter. Daiwa Securities Group Inc. now owns 10,500 shares of the semiconductor company’s stock valued at $214,000 after buying an additional 1,400 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its stake 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 buying an additional 5,570 shares during the period. Diametric Capital LP increased its stake in shares of Daqo New Energy by 25.5% in the fourth quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company’s stock valued at $311,000 after buying an additional 3,255 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of 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 buying an additional 1,410 shares during the period. Institutional investors and hedge funds own 47.22% of the company’s stock.

Daqo New Energy Price Performance

Shares of DQ stock traded up $0.76 on Wednesday, hitting $20.53. 1,116,185 shares of the company’s stock were exchanged, compared to its average volume of 1,030,678. Daqo New Energy has a 12 month low of $13.62 and a 12 month high of $30.85. The stock has a market cap of $1.35 billion, a P/E ratio of -11.09 and a beta of 0.41. The company has a 50 day moving average of $19.64 and a 200 day moving average of $19.55.

Daqo New Energy (NYSE:DQ) last posted its earnings results on Thursday, February 27th. The semiconductor company reported ($2.71) EPS for the quarter, missing the consensus estimate of ($0.69) by ($2.02). The firm had revenue of $195.36 million during the quarter, compared to the consensus estimate of $153.54 million. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. Sell-side analysts predict that Daqo New Energy will post -3.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Daqo New Energy to a “sell” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target 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.