The stock last traded at $37.70 quite a bit higher than $31.30, the 50 day moving average and which is quite a bit above the 200 day moving average of $24.67. The 50 day moving average was up $6.40 or +20.45% whereas the 200 day moving average was up $13.03 or +52.84%. (NYSE:DQ) shares saw light trading volume with 85K shares changing hands by the end of trading on Tuesday. Trading volume was down 39.12% under the stocks average daily volume.
Traders are feeling more bearish of late as evidenced by the change in short interest. The firm recorded a rise in short interest of 74.31% as of October 13, 2017 from the last reporting period. Short interest increased 55,022 over that timeframe. Days to cover decreased 0.0 to 1.0 and the percentage of shorted shares is 0.01% as of October 13.
Here are a few substantial investment firms who have updated their positions. Ubs Group Ag cut its ownership by selling 551 shares a decrease of 27.8% from 03/31/2017 to 06/30/2017. Ubs Group Ag claims 1,434 shares worth $30,000. The value of the position overall is down by 18.9%. As of the end of the quarter Acadian Asset Management LLC had disposed of 50,023 shares trimming its stake by 27.8%. The value of the company’s investment in DAQO New Energy Corp. American increased from $3,729,000 to $3,760,000 increasing 0.8% quarter over quarter.
Ecofin Ltd downsized its position by shedding 1,356 shares a decrease of 1.3%. Ecofin Ltd owns 101,849 shares valued at $2,956,000. The total value of its holdings increased 37.9%. Simplex Trading, LLC added to its holdings by buying 1,910 shares an increase of 25.8% in the quarter. Simplex Trading, LLC now controls 9,315 shares with a value of $270,000. The value of the position overall is up by 76.5%.
The company currently has a P/E ratio of 7.87 and the market cap is 396.94M. In the latest earnings report the EPS was $4.79 and is projected to be $5.88 for the current year with 10,529,000 shares currently outstanding. Analysts expect next quarter’s EPS to be $1.24 and the next full year EPS is anticipated to be $4.40.
Daqo New Energy Corp., launched on November 22, 2007, is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Business’s segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions. The Company offers ready-to-use polysilicon, packaged to meet crucible stacking, pulling and solidification needs. The Company offers wafers through its downstream photovoltaic product manufacturing business. The Company also provides wafer original equipment manufacturer (OEM) service to external customers through tolling agreements by processing polysilicon to produce ingot and wafer..