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

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Daqo New Energy Corp (NYSE:DQ) was the recipient of some unusual options trading on Monday. Investors purchased 1,630 call options on the stock. This represents an increase of approximately 1,963% compared to the typical daily volume of 79 call options.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DQ. Bank of America Corp DE boosted its stake in shares of Daqo New Energy by 210.4% during the 2nd quarter. Bank of America Corp DE now owns 360,329 shares of the semiconductor company’s stock worth $12,806,000 after acquiring an additional 244,237 shares in the last quarter. Luminus Management LLC bought a new stake in shares of Daqo New Energy during the 2nd quarter worth $8,601,000. Calamos Advisors LLC bought a new stake in shares of Daqo New Energy during the 2nd quarter worth $6,113,000. Millennium Management LLC boosted its stake in shares of Daqo New Energy by 82.3% during the 1st quarter. Millennium Management LLC now owns 193,878 shares of the semiconductor company’s stock worth $9,490,000 after acquiring an additional 87,538 shares in the last quarter. Finally, BlackRock Inc. bought a new stake in shares of Daqo New Energy during the 2nd quarter worth $2,493,000. 40.37% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE DQ opened at $26.18 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 1.06. The firm has a market cap of $270.53 million, a price-to-earnings ratio of 3.08 and a beta of 1.38. Daqo New Energy has a 1 year low of $20.43 and a 1 year high of $72.50.

Daqo New Energy (NYSE:DQ) last issued its quarterly earnings results on Tuesday, August 7th. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.46. The firm had revenue of $66.95 million during the quarter, compared to analyst estimates of $62.70 million. Daqo New Energy had a return on equity of 23.80% and a net margin of 28.32%. Equities research analysts forecast that Daqo New Energy will post 2.64 earnings per share for the current year.

DQ has been the topic of a number of research reports. TheStreet cut Daqo New Energy from a “b-” rating to a “c+” rating in a research report on Wednesday, October 24th. Credit Suisse Group initiated coverage on Daqo New Energy in a research report on Friday, August 24th. They set an “outperform” rating and a $58.00 price target on the stock. Roth Capital upgraded Daqo New Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $48.00 in a research report on Wednesday, August 8th. Finally, ValuEngine cut Daqo New Energy from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $56.67.

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Daqo New Energy Company Profile

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon and wafers in the People's Republic of China. It operates through two segments, Polysilicon and Wafers. The company offers polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.

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