Daqo New Energy Corp. (NYSE:DQ) Sees Significant Growth in Short Interest

Daqo New Energy Corp. (NYSE:DQ - Get Free Report) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 3,930,000 shares, a growth of 26.0% from the March 15th total of 3,120,000 shares. Based on an average daily volume of 882,600 shares, the days-to-cover ratio is currently 4.5 days. Approximately 6.0% of the company's shares are short sold.

Institutional Investors Weigh In On Daqo New Energy

A number of institutional investors have recently added to or reduced their stakes in DQ. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Daqo New Energy in the 4th quarter valued at about $52,000. Diametric Capital LP lifted its position in shares of Daqo New Energy by 25.5% during the 4th quarter. Diametric Capital LP now owns 16,018 shares of the semiconductor company's stock valued at $311,000 after acquiring an additional 3,255 shares during the period. Van ECK Associates Corp boosted its stake in shares of Daqo New Energy by 7.6% during the 4th quarter. Van ECK Associates Corp now owns 20,067 shares of the semiconductor company's stock worth $390,000 after acquiring an additional 1,410 shares in the last quarter. Polymer Capital Management HK LTD purchased a new stake in shares of Daqo New Energy during the 4th quarter worth approximately $404,000. Finally, Geode Capital Management LLC grew its holdings in shares of Daqo New Energy by 9.2% in the 3rd quarter. Geode Capital Management LLC now owns 33,546 shares of the semiconductor company's stock worth $683,000 after acquiring an additional 2,813 shares during the period. Hedge funds and other institutional investors own 47.22% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com upgraded shares of Daqo New Energy to a "sell" rating in a report on Monday. The Goldman Sachs Group lowered Daqo New Energy from a "buy" rating to a "neutral" rating and set a $17.00 price objective on the stock. in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.21.

Daqo New Energy Stock Performance

NYSE DQ traded up $0.35 during trading hours on Friday, hitting $14.83. The company had a trading volume of 900,425 shares, compared to its average volume of 1,054,434. The business has a 50 day moving average of $17.58 and a 200-day moving average of $19.14. The company has a market cap of $978.88 million, a PE ratio of -8.02 and a beta of 0.37. Daqo New Energy has a 1-year low of $12.90 and a 1-year high of $30.85.

Daqo New Energy (NYSE:DQ - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $195.36 million for the quarter, compared to analysts' expectations 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 expect that Daqo New Energy will post -3.5 earnings per share for the current fiscal year.

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.