DAQO New Energy Corp. (NYSE:DQ) Short Interest Down 19.2% in December

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of DAQO New Energy in a research report on Monday, December 29th. Wall Street Zen upgraded shares of DAQO New Energy from a “sell” rating to a “hold” rating in a research note on Monday, November 3rd. 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. Finally, Roth Capital set a $30.00 target price on shares of DAQO New Energy and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.04.

Institutional Inflows and Outflows

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

DAQO New Energy Stock Performance

Shares of DAQO New Energy stock traded down $0.57 during trading hours on Tuesday, hitting $24.61. The company’s stock had a trading volume of 367,786 shares, compared to its average volume of 799,365. The company has a market cap of $1.65 billion, a PE ratio of -4.79 and a beta of 0.60. The business has a 50 day moving average price of $30.67 and a two-hundred day moving average price of $27.19. DAQO New Energy has a 12-month low of $12.40 and a 12-month high of $36.59.

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

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.