Investors Purchase High Volume of Put Options on Daqo New Energy (DQ)

Daqo New Energy Corp (NYSE:DQ) was the target of some unusual options trading activity on Monday. Stock investors bought 1,222 put options on the company. This represents an increase of 826% compared to the average volume of 132 put options.

Daqo New Energy (NYSE DQ) opened at $60.53 on Thursday. Daqo New Energy has a 52-week low of $18.01 and a 52-week high of $65.50. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.49 and a current ratio of 0.57. The company has a market cap of $636.67, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 1.66 and a beta of 2.13.

A number of brokerages have commented on DQ. Roth Capital set a $65.00 price target on shares of Daqo New Energy and gave the company a “buy” rating in a research report on Monday, December 4th. Zacks Investment Research upgraded shares of Daqo New Energy from a “hold” rating to a “strong-buy” rating and set a $50.00 price target on the stock in a research report on Monday, November 20th. Finally, TheStreet upgraded shares of Daqo New Energy from a “c+” rating to a “b” rating in a research report on Wednesday, November 15th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $51.67.

Hedge funds and other institutional investors have recently modified their holdings of the business. Susquehanna International Group LLP bought a new position in shares of Daqo New Energy in the third quarter worth approximately $490,000. Granite Point Capital Management L.P. bought a new position in shares of Daqo New Energy in the third quarter worth approximately $290,000. Dymon Asia Capital Ltd. grew its holdings in shares of Daqo New Energy by 46.6% in the third quarter. Dymon Asia Capital Ltd. now owns 203,867 shares of the semiconductor company’s stock worth $5,916,000 after purchasing an additional 64,850 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Daqo New Energy by 29,376.5% in the third quarter. JPMorgan Chase & Co. now owns 28,887 shares of the semiconductor company’s stock worth $852,000 after purchasing an additional 28,789 shares during the last quarter. Finally, Ecofin Ltd. grew its holdings in shares of Daqo New Energy by 22.3% in the second quarter. Ecofin Ltd. now owns 103,205 shares of the semiconductor company’s stock worth $2,143,000 after purchasing an additional 18,846 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

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Daqo New Energy Company Profile

Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company’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.

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