Daqo New Energy Sees Unusually High Options Volume (NYSE:DQ)


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

Hedge funds have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Daqo New Energy during the 3rd quarter worth about $27,000. Exane Derivatives purchased a new position in shares of Daqo New Energy during the 3rd quarter worth about $29,000. AXA S.A. purchased a new position in shares of Daqo New Energy during the 3rd quarter worth about $108,000. SG Americas Securities LLC purchased a new position in shares of Daqo New Energy during the 3rd quarter worth about $136,000. Finally, Bank of Montreal Can lifted its holdings in shares of Daqo New Energy by 26.0% during the 2nd quarter. Bank of Montreal Can now owns 1,162 shares of the semiconductor company’s stock worth $105,000 after acquiring an additional 240 shares during the period. Institutional investors and hedge funds own 59.84% of the company’s stock.

DQ has been the topic of a number of recent analyst reports. ValuEngine cut 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 price target on the stock in a research note on Friday, January 8th. BidaskClub upgraded shares of Daqo New Energy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 17th. The Goldman Sachs Group assumed coverage on shares of Daqo New Energy in a research report on Tuesday, December 8th. They issued a “buy” rating and a $62.00 price objective on the stock. Finally, Roth Capital lowered shares of Daqo New Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $44.00 to $40.00 in a research report on Monday, October 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $51.20.

NYSE:DQ traded down $7.89 on Wednesday, reaching $77.41. The stock had a trading volume of 3,341,153 shares, compared to its average volume of 3,200,658. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 75.87 and a beta of 0.84. 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 firm’s fifty day moving average is $54.10 and its two-hundred day moving average is $35.49. Daqo New Energy has a 12-month low of $8.32 and a 12-month high of $85.54.

Daqo New Energy (NYSE:DQ) last released its earnings results on Sunday, November 22nd. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ 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 previous year, the business earned $0.13 earnings per share. As a group, research analysts forecast that Daqo New Energy will post 1.84 earnings per share for the current fiscal year.

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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