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

Daqo New Energy Corp. (NYSE:DQ) was the target of unusually large options trading activity on Tuesday. Stock investors bought 38,660 put options on the stock. This represents an increase of 980% compared to the average daily volume of 3,580 put options.

Several institutional investors and hedge funds have recently made changes to their positions in DQ. Morgan Stanley increased its stake in Daqo New Energy by 33.3% during the 3rd quarter. Morgan Stanley now owns 629,537 shares of the semiconductor company’s stock valued at $85,139,000 after purchasing an additional 157,140 shares in the last quarter. Handelsbanken Fonder AB grew its position in Daqo New Energy by 48.0% during the third quarter. Handelsbanken Fonder AB now owns 467,124 shares of the semiconductor company’s stock valued at $63,174,000 after buying an additional 151,533 shares during the period. Bank of America Corp DE grew its position in Daqo New Energy by 0.6% during the second quarter. Bank of America Corp DE now owns 352,281 shares of the semiconductor company’s stock valued at $26,154,000 after buying an additional 2,052 shares during the period. Voloridge Investment Management LLC acquired a new stake in Daqo New Energy during the third quarter valued at $8,709,000. Finally, First Trust Advisors LP grew its position in Daqo New Energy by 72.0% during the third quarter. First Trust Advisors LP now owns 38,086 shares of the semiconductor company’s stock valued at $5,151,000 after buying an additional 15,943 shares during the period. 59.84% of the stock is owned by hedge funds and other 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 firm has a 50 day moving average price of $54.10 and a 200-day moving average price of $35.49. Daqo New Energy has a one year low of $8.32 and a one year high of $85.54. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.54 and a quick ratio of 0.38. 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 (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.

A number of equities analysts have weighed in on DQ shares. ValuEngine downgraded shares of Daqo New Energy from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 17th. 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. BidaskClub raised shares of Daqo New Energy from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 17th. 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. Finally, 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $51.20.

Daqo New Energy Company Profile

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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