Daqo New Energy Target of Unusually Large Options Trading (NYSE:DQ)

Daqo New Energy Corp. (NYSE:DQ) was the target of some unusual options trading activity on Tuesday. Investors acquired 38,660 put options on the company. This is an increase of approximately 980% compared to the average daily volume of 3,580 put options.

A number of equities analysts have weighed in on DQ shares. Zacks Investment Research raised shares of Daqo New Energy from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research note on Friday, January 8th. The Goldman Sachs Group started coverage on shares of Daqo New Energy in a research note on Tuesday, December 8th. They set a “buy” rating and a $62.00 target price for the company. BidaskClub raised shares of Daqo New Energy from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 17th. ValuEngine downgraded shares of Daqo New Energy from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 17th. Finally, Roth Capital downgraded shares of Daqo New Energy from a “buy” rating to a “neutral” rating and decreased their target price for the company from $44.00 to $40.00 in a research note on Monday, October 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Daqo New Energy currently has a consensus rating of “Buy” and an average target price of $51.20.

Institutional investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Daqo New Energy during the third quarter valued at approximately $27,000. Exane Derivatives purchased a new position in Daqo New Energy during the third quarter valued at $29,000. Bank of Montreal Can lifted its stake in shares of Daqo New Energy by 26.0% in the second quarter. Bank of Montreal Can now owns 1,162 shares of the semiconductor company’s stock worth $105,000 after buying an additional 240 shares in the last quarter. AXA S.A. acquired a new stake in Daqo New Energy during the third quarter worth about $108,000. Finally, SG Americas Securities LLC acquired a new stake in Daqo New Energy during the third quarter worth about $136,000. 59.84% of the stock is owned by institutional investors.

Shares of Daqo New Energy stock traded down $7.89 during trading hours on Wednesday, reaching $77.41. The company’s stock had a trading volume of 3,341,153 shares, compared to its average volume of 3,200,658. The stock has a market cap of $5.38 billion, a P/E ratio of 75.87 and a beta of 0.84. Daqo New Energy has a one year low of $8.32 and a one year high of $85.54. The firm has a 50 day moving average price of $54.10 and a 200-day moving average price of $35.49. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.54 and a quick ratio of 0.38.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings results on Sunday, November 22nd. The semiconductor company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.05). Daqo New Energy had a net margin of 13.98% and a return on equity of 12.41%. During the same quarter in the prior year, the company earned $0.13 EPS. As a group, sell-side analysts forecast that Daqo New Energy will post 1.84 EPS for the current fiscal year.

About Daqo New Energy

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufactures in the People's Republic of China. It offers ready-to-use polysilicon, and packaged to meet crucible stacking, pulling, and solidification products. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.

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