Investors Buy High Volume of Daqo New Energy Call Options (NYSE:DQ)

Daqo New Energy Corp. (NYSE:DQ) was the target of unusually large options trading activity on Friday. Stock investors bought 3,101 call options on the stock. This is an increase of approximately 156% compared to the average volume of 1,210 call options.

Daqo New Energy Stock Up 0.9 %

Shares of Daqo New Energy stock opened at $20.39 on Friday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 9.57 and a beta of 0.32. The business has a fifty day simple moving average of $22.99 and a 200-day simple moving average of $23.04. Daqo New Energy has a fifty-two week low of $17.30 and a fifty-two week high of $43.66.

Daqo New Energy (NYSE:DQ) last announced its quarterly earnings data on Monday, April 29th. The semiconductor company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.32). The firm had revenue of $415.31 million during the quarter, compared to analyst estimates of $491.90 million. Daqo New Energy had a net margin of 7.84% and a return on equity of 2.46%. During the same quarter last year, the company earned $3.52 EPS. Analysts anticipate that Daqo New Energy will post 0.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on DQ. Roth Mkm reissued a “neutral” rating and issued a $23.00 target price on shares of Daqo New Energy in a report on Tuesday, April 30th. Daiwa Capital Markets reissued an “underperform” rating and issued a $25.00 target price on shares of Daqo New Energy in a report on Friday, March 15th. Finally, HSBC reissued a “reduce” rating and issued a $17.50 target price (down previously from $23.50) on shares of Daqo New Energy in a report on Monday, May 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $27.63.

Institutional Investors Weigh In On Daqo New Energy

Several hedge funds have recently modified their holdings of DQ. Boston Partners purchased a new stake in Daqo New Energy in the 4th quarter worth about $2,016,000. Mackenzie Financial Corp increased its position in Daqo New Energy by 23.8% in the 4th quarter. Mackenzie Financial Corp now owns 1,794,353 shares of the semiconductor company’s stock worth $47,730,000 after purchasing an additional 344,616 shares during the last quarter. Invesco Ltd. increased its position in Daqo New Energy by 6.9% in the 3rd quarter. Invesco Ltd. now owns 1,658,153 shares of the semiconductor company’s stock worth $50,192,000 after purchasing an additional 107,235 shares during the last quarter. CoreCommodity Management LLC acquired a new position in Daqo New Energy in the 4th quarter worth about $2,291,000. Finally, Andra AP fonden increased its position in Daqo New Energy by 48.1% in the 3rd quarter. Andra AP fonden now owns 133,700 shares of the semiconductor company’s stock worth $4,047,000 after purchasing an additional 43,400 shares during the last quarter. 47.22% of the stock is owned by hedge funds and other institutional investors.

Daqo New Energy Company Profile

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.