In today’s recent session, 0.75 million shares of the Daqo New Energy Corp. (NYSE:DQ) have been traded, and its beta is 0.61. Most recently the company’s share price was $66.74, and it changed around -$0.26 or -0.39% from the last close, which brings the market valuation of the company to $4.61B. DQ at last check was trading at a discount to its 52-week high of $90.48, offering almost -35.57% off that amount. The share price’s 52-week low was $32.20, which indicates that the recent value has risen by an impressive 51.75% since then. We note from Daqo New Energy Corp.’s average daily trading volume that its 10-day average is 1.92 million shares, with the 3-month average coming to 1.36 million.
Daqo New Energy Corp. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.10. If we narrow it down even further, the data shows that 0 out of 9 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 2 recommended DQ as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Daqo New Energy Corp. is expected to report earnings per share of $6.46 for the current quarter.
Daqo New Energy Corp. (NYSE:DQ) trade information
Instantly DQ has been showing red trend so far today with a performance of -0.39% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 67.57 on Tuesday, 06/21/22 increased the stock’s daily price by 1.23%. The company’s shares are currently up 66.17% year-to-date, but still up 14.67% over the last five days. On the other hand, Daqo New Energy Corp. (NYSE:DQ) is 45.81% up in the 30-day period. We can see from the shorts that 2.31 million shares have been sold at a short interest cover period of 2.39 day(s).
The consensus price target as assigned by Wall Street analysts is $80.41, which translates to bulls needing to increase their stock price by 17.0% from its current value. Analyst projections state that DQ is forecast to be at a low of $44.00 and a high of $137.00. In order for the stock price to hit the forecast high, the stock would need to plunge -105.27% from its current level, while the stock would need to crash 34.07% from its current level to reach the projected low.
Daqo New Energy Corp. (DQ) estimates 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 64.62 percent over the past six months and at a 129.75% annual growth rate that is well above the industry average of 16.40%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will gain 113.20% in revenue this quarter, and will report an increase of 40.80% in the next quarter. The year-over-year growth rate is expected to be 109.50%, up from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $1.06 billion in revenue for the current quarter. 3 analysts expect Daqo New Energy Corp. to make $745.22 million in revenue for the quarter ending Sep 2022. The company’s sales for the same quarters a year ago were $441.37 million and $548.23 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 139.80%. Forecasts for the next quarter put sales growth at 35.90%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 66.20%.
Daqo New Energy Corp.’s next quarterly earnings report is expected to be released around August 16 and August 22.
Daqo New Energy Corp. (NYSE:DQ)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 8.52% of Daqo New Energy Corp. shares, and 59.02% of them are in the hands of institutional investors. The stock currently has a share float of 64.52%. Daqo New Energy Corp. stock is held by 365 institutions, with Blackrock Inc. being the largest institutional investor. By Mar 30, 2022, it held 6.56% of the shares, which is about 4.89 million shares worth $201.85 million.
Bnp Paribas Asset Management Holding S.a., with 4.81% or 3.59 million shares worth $148.14 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.
Invesco ETF TR II-Invesco Solar ETF and iShares Global Clean Energy ETF were the top two Mutual Funds as of Apr 29, 2022. The former held 1.99 million shares worth $82.59 million, making up 2.67% of all outstanding shares. On the other hand, iShares Global Clean Energy ETF held roughly 1.52 million shares worth around $63.15 million, which represents about 2.04% of the total shares outstanding.