Daqo New Energy Corp. (NYSE:DQ – Get Rating) saw a significant decline in short interest in January. As of January 31st, there was short interest totalling 3,070,000 shares, a decline of 8.6% from the January 15th total of 3,360,000 shares. Based on an average daily trading volume, of 1,280,000 shares, the short-interest ratio is currently 2.4 days.
Wall Street Analyst Weigh In
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Separately, The Goldman Sachs Group cut shares of Daqo New Energy from a “buy” rating to a “neutral” rating and cut their target price for the stock from $140.00 to $70.00 in a research note on Monday, December 5th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Daqo New Energy has an average rating of “Moderate Buy” and a consensus target price of $75.00.
Institutional Investors Weigh In On Daqo New Energy
A number of institutional investors and hedge funds have recently made changes to their positions in DQ. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Daqo New Energy by 137.6% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 34,476 shares of the semiconductor company’s stock valued at $1,483,000 after acquiring an additional 19,965 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Daqo New Energy by 67.8% in the 1st quarter. JPMorgan Chase & Co. now owns 161,748 shares of the semiconductor company’s stock valued at $6,684,000 after acquiring an additional 65,361 shares during the period. American Century Companies Inc. increased its stake in Daqo New Energy by 8.0% during the 1st quarter. American Century Companies Inc. now owns 33,487 shares of the semiconductor company’s stock worth $1,384,000 after buying an additional 2,490 shares during the period. US Bancorp DE increased its stake in Daqo New Energy by 89.0% during the 1st quarter. US Bancorp DE now owns 1,981 shares of the semiconductor company’s stock worth $82,000 after buying an additional 933 shares during the period. Finally, HighTower Advisors LLC purchased a new stake in Daqo New Energy during the 1st quarter worth approximately $324,000.
Daqo New Energy Price Performance
NYSE:DQ opened at $43.92 on Thursday. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 2.06 and a beta of 0.54. The company’s 50-day moving average is $43.65 and its two-hundred day moving average is $51.91. Daqo New Energy has a 1-year low of $32.20 and a 1-year high of $77.18.
Daqo New Energy Company Profile
Daqo New Energy Corp. is a holding company, which engages in the provision of polysilicon products. It involves in the manufacture and sale of polysilicon to photovoltaic product manufactures, who further process the polysilicon into ingots, wafers, cells, and modules for solar power solutions. The company was founded by Guang Fu Xu on November 22, 2007 and is headquartered in Shanghai, China.
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