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After A 4.00% Jump In The Last Week, Does Daqo New Energy Corp. (NYSE: DQ) Still Make Sense To Buy?

During the last session, Daqo New Energy Corp. (NYSE:DQ)’s traded shares were 1.39 million, with the beta value of the company hitting 0.31. At the end of the trading day, the stock’s price was $66.82, reflecting an intraday gain of 6.89% or $4.31. The 52-week high for the DQ share is $81.10, that puts it down -21.37 from that peak though still a striking 51.81% gain since the share price plummeted to a 52-week low of $32.20. The company’s market capitalization is $4.96B, and the average intraday trading volume over the past 10 days was 1.78 million shares, and the average trade volume was 1.68 million shares over the past three months.

Daqo New Energy Corp. (DQ) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.20. DQ has a Sell rating from 0 analyst(s) out of 9 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 6 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $6.13.

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Daqo New Energy Corp. (NYSE:DQ) trade information

Daqo New Energy Corp. (DQ) registered a 6.89% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 6.89% in intraday trading to $66.82 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 4.00%, and it has moved by -0.27% in 30 days. Based on these gigs, the overall price performance for the year is 11.80%. The short interest in Daqo New Energy Corp. (NYSE:DQ) is 1.93 million shares and it means that shorts have 0.85 day(s) to cover.

The consensus price target of analysts on Wall Street is $92.23, which implies an increase of 27.55% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $67.00 and $140.00 respectively. As a result, DQ is trading at a discount of -109.52% off the target high and -0.27% off the low.

Daqo New Energy Corp. (DQ) estimates and forecasts

Statistics show that Daqo New Energy Corp. has outperformed its competitors in share price, compared to the industry in which it operates. Daqo New Energy Corp. (DQ) shares have gone up 77.19% during the last six months, with a year-to-date growth rate more than the industry average at 160.81% against 12.00. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 102.30% this quarter and then jump 50.30% in the quarter after that. In the rating firms’ projections, revenue will increase 130.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $1.15 billion as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $806.06 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $441.37 million and $548.23 million respectively. In this case, analysts expect current quarter sales to grow by 160.30% and then jump by 47.00% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 66.20%. While earnings are projected to return 465.90% in 2022.

DQ Dividends

Daqo New Energy Corp. is due to release its next quarterly earnings between March 07 and March 11. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Daqo New Energy Corp. (NYSE:DQ)’s Major holders

Daqo New Energy Corp. insiders own 8.52% of total outstanding shares while institutional holders control 59.35%, with the float percentage being 64.87%. Blackrock Inc. is the largest shareholder of the company, while 376 institutions own stock in it. As of Mar 30, 2022, the company held over 4.89 million shares (or 6.56% of all shares), a total value of $201.85 million in shares.

The next largest institutional holding, with 3.59 million shares, is of Bnp Paribas Asset Management Holding S.a.’s that is approximately 4.81% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $148.14 million.

Also, the Mutual Funds coming in first place with the largest holdings of Daqo New Energy Corp. (DQ) shares are iShares Global Clean Energy ETF and Invesco ETF TR II-Invesco Solar ETF. Data provided on Jun 29, 2022 indicates that iShares Global Clean Energy ETF owns about 1.49 million shares. This amounts to just over 1.99 percent of the company’s overall shares, with a $106.06 million market value. The same data shows that the other fund manager holds slightly less at 1.32 million, or about 1.77% of the stock, which is worth about $93.89 million.

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