Daqo New Energy Corp. stock received a consensus recommendation rating of Overweight, based on a mean score of 1.8. If we narrow it down even further, the data shows that none out of 9 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 1 recommended DQ as a Hold, whereas 5 deemed it a Buy, and no one rated it as Underweight. Daqo New Energy Corp. is expected to report earnings per share of $1.15 for the current quarter.
Daqo New Energy Corp. (NYSE:DQ): Trading Information
Although DQ has showed a red trend with a performance of -2.3% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $129.2 on Tuesday, Feb 16 increased the stock’s daily price by 18.89%. The company’s shares are currently up 0.83% year-to-date, but still down -0.1187 over the last five days. On the other hand, Daqo New Energy Corp. (NYSE:DQ) is 0.27% up in the 30-day period. We can see from the shorts that 6.21 Million shares have been sold at a short interest cover period of 2.34 day(s).
The consensus price target as assigned by Wall Street analysts is $113.43, which translates to bears needing to increase their stock price by 8.23% from its current value. Analyst projections state that DQ is forecast to be at a low of $44.3 and a high of $158. In order for the stock price to hit the forecast high, the stock would need to surge +50.76% from its current level, while the stock would need to crash -57.73% from its current level to reach the projected low.
Daqo New Energy Corp. (DQ) projections and forecasts
Daqo New Energy Corp. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +318.56 percent over the past six months and at a 395% annual growth rate that is well above the industry average of 7.3%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +238.2% in revenue this quarter, and will report an increase of 42.2% in the next quarter. The year-over-year growth rate is expected to be 97.2%, up from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $232.16 Million in revenue for the current quarter. 3 analysts expect Daqo New Energy Corp. to make $248.35 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarters a year ago were $118.92 Million and $168.83 Million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 95.2%. Forecasts for the next quarter put sales growth at 47.1%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 0.6%. Daqo New Energy Corp. earnings are expected to decrease by -56.8% in 2021, but the outlook is negative 0% per year for the next five years.
Daqo New Energy Corp. (NYSE:DQ)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 11.93% of Daqo New Energy Corp. shares, and 84.56% of them are in the hands of institutional investors. The stock currently has a share float of 96.02%. Daqo New Energy Corp. stock is held by 191 institutions, with Nomura Holdings Inc. being the largest institutional investor. By Sep 29, 2020, it held 26.31% of the shares, which is about 18.28 Million shares worth $494.47 Million.
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