Short Interest in DAQO New Energy Corp. (NYSE:DQ) Drops By 19.2%

DAQO New Energy Corp. (NYSE:DQ) was the target of a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 2,135,366 shares, a drop of 19.2% from the December 15th total of 2,643,988 shares. Approximately 4.2% of the company’s shares are short sold. Based on an average daily trading volume, of 546,696 shares, the days-to-cover ratio is presently 3.9 days. Based on an average daily trading volume, of 546,696 shares, the days-to-cover ratio is presently 3.9 days. Approximately 4.2% of the company’s shares are short sold.

Institutional Trading of DAQO New Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new position in DAQO New Energy in the third quarter valued at approximately $26,000. Headlands Technologies LLC acquired a new stake in shares of DAQO New Energy in the 2nd quarter valued at approximately $29,000. Pinpoint Asset Management Singapore Pte. Ltd. grew its stake in shares of DAQO New Energy by 777.7% in the third quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 2,633 shares of the semiconductor company’s stock valued at $74,000 after buying an additional 2,333 shares in the last quarter. Brooklyn Investment Group increased its holdings in DAQO New Energy by 17,302.3% during the third quarter. Brooklyn Investment Group now owns 7,657 shares of the semiconductor company’s stock worth $215,000 after buying an additional 7,613 shares during the last quarter. Finally, Vise Technologies Inc. bought a new stake in DAQO New Energy during the third quarter worth $225,000. Institutional investors own 47.22% of the company’s stock.

DAQO New Energy Trading Down 1.9%

Shares of NYSE DQ traded down $0.48 during midday trading on Monday, reaching $25.11. The company’s stock had a trading volume of 895,631 shares, compared to its average volume of 649,765. The stock has a 50 day simple moving average of $30.89 and a 200-day simple moving average of $27.14. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -4.89 and a beta of 0.60. DAQO New Energy has a fifty-two week low of $12.40 and a fifty-two week high of $36.59.

DAQO New Energy (NYSE:DQ) last released its earnings results on Monday, October 27th. The semiconductor company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.39. DAQO New Energy had a negative net margin of 53.74% and a negative return on equity of 5.89%. The business had revenue of $244.60 million during the quarter, compared to the consensus estimate of $176.78 million. As a group, equities analysts anticipate that DAQO New Energy will post -3.5 EPS for the current year.

Wall Street Analyst Weigh In

DQ has been the subject of several recent analyst reports. Wall Street Zen upgraded DAQO New Energy from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of DAQO New Energy in a report on Monday, December 29th. Roth Capital set a $30.00 price objective on shares of DAQO New Energy and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Finally, The Goldman Sachs Group set a $18.30 price objective on shares of DAQO New Energy and gave the company a “neutral” rating in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.04.

DAQO New Energy Company Profile

DAQO New Energy Corp. operates as a leading manufacturer of high-purity polysilicon and monocrystalline silicon wafers for the global solar photovoltaic industry. The company focuses on serving module makers and integrated solar producers with critical upstream materials, applying proprietary technologies and optimized processes to achieve high product purity and consistently low production costs. Its core offerings include solar-grade polysilicon—used in the ingot casting and wafer slicing stages—and premium mono-silicon wafers, which are a key input for high-efficiency solar cell production.

Founded in the late 2000s and listed on the New York Stock Exchange in 2010, DAQO New Energy established its first polysilicon facility in China’s Xinjiang Uygur Autonomous Region.