Short Interest in DAQO New Energy Corp. (NYSE:DQ) Decreases By 28.2%

DAQO New Energy Corp. (NYSE:DQ) was the target of a large decline in short interest during the month of January. As of January 15th, there was short interest totaling 1,532,216 shares, a decline of 28.2% from the December 31st total of 2,135,366 shares. Approximately 3.0% of the shares of the company are sold short. Based on an average daily trading volume, of 835,753 shares, the short-interest ratio is presently 1.8 days. Based on an average daily trading volume, of 835,753 shares, the short-interest ratio is presently 1.8 days. Approximately 3.0% of the shares of the company are sold short.

DAQO New Energy Stock Performance

Shares of DAQO New Energy stock opened at $24.70 on Friday. The stock has a market cap of $1.66 billion, a P/E ratio of -4.81 and a beta of 0.60. The stock’s fifty day moving average is $29.57 and its 200 day moving average is $27.48. DAQO New Energy has a one year low of $12.40 and a one year high of $36.59.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of DAQO New Energy in a research note on Monday, December 29th. Wall Street Zen raised DAQO New Energy from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. The Goldman Sachs Group set a $18.30 target price on DAQO New Energy and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Finally, Roth Mkm set a $30.00 price target on shares of DAQO New Energy and gave the company a “neutral” rating in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, DAQO New Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.04.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Polunin Capital Partners Ltd purchased a new stake in DAQO New Energy in the 3rd quarter worth approximately $37,183,000. Continental General Insurance Co. boosted its position in shares of DAQO New Energy by 11.3% in the third quarter. Continental General Insurance Co. now owns 6,641,986 shares of the semiconductor company’s stock worth $186,839,000 after purchasing an additional 675,784 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of DAQO New Energy in the third quarter worth approximately $18,280,000. Goldman Sachs Group Inc. increased its stake in shares of DAQO New Energy by 117.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock worth $21,005,000 after purchasing an additional 625,900 shares in the last quarter. Finally, Allianz Asset Management GmbH bought a new stake in shares of DAQO New Energy during the 3rd quarter valued at $11,673,000. 47.22% of the stock is owned by hedge funds and other institutional investors.

About DAQO New Energy

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.