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Daqo New Energy Corp. (NYSE: DQ): Would You Buy Today?

In the last trading session, 1.2 million shares of the Daqo New Energy Corp. (NYSE:DQ) were traded, and its beta was 0.53. Most recently the company’s share price was $39.74, and it changed around $2.0 or 5.30% from the last close, which brings the market valuation of the company to $3.17B. DQ currently trades at a discount to its 52-week high of $77.18, offering almost -94.21% off that amount. The share price’s 52-week low was $36.91, which indicates that the current value has risen by an impressive 7.12% since then. We note from Daqo New Energy Corp.’s average daily trading volume that its 10-day average is 1.18 million shares, with the 3-month average coming to 1.20 million.

Daqo New Energy Corp. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.50. If we narrow it down even further, the data shows that 1 out of 14 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 5 recommended DQ as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Daqo New Energy Corp. is expected to report earnings per share of $5.54 for the current quarter.

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

Instantly DQ has showed a green trend with a performance of 5.30% 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 41.69 on Tuesday, 05/23/23 increased the stock’s daily price by 4.68%. The company’s shares are currently up 2.93% year-to-date, but still down -4.61% over the last five days. On the other hand, Daqo New Energy Corp. (NYSE:DQ) is -7.15% down in the 30-day period. We can see from the shorts that 3.56 million shares have been sold at a short interest cover period of 3.73 day(s).

The consensus price target as assigned by Wall Street analysts is $57.08, which translates to bulls needing to increase their stock price by 30.38% from its current value. Analyst projections state that DQ is forecast to be at a low of $26.42 and a high of $87.00. In order for the stock price to hit the forecast high, the stock would need to plunge -118.92% from its current level, while the stock would need to crash 33.52% 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 not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -25.15 percent over the past six months and at a -26.19% annual growth rate that is well below the industry average of 7.60%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will loss -32.30% in revenue this quarter, and will report a decrease of -9.60% in the next quarter. The year-over-year growth rate is expected to be -19.10%, down from the previous year.

Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $1.19 billion in revenue for the current quarter. 3 analysts expect Daqo New Energy Corp. to make $845.84 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $1.24 billion and $1.17 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -4.40%. Forecasts for the next quarter put sales growth at -27.60%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 67.80%.

DQ Dividends

Daqo New Energy Corp.’s next quarterly earnings report is expected to be released around August 01 and August 07.

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 59.11% of them are in the hands of institutional investors. The stock currently has a share float of 64.62%. Daqo New Energy Corp. stock is held by 383 institutions, with Blackrock Inc. being the largest institutional investor. By Mar 30, 2023, it held 3.66% of the shares, which is about 2.73 million shares worth $127.69 million.

Morgan Stanley, with 3.64% or 2.71 million shares worth $126.98 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Invesco ETF TR II-Invesco Solar ETF and Vanguard International Stock Index-Emerging Markets Stk were the top two Mutual Funds as of Mar 30, 2023. The former held 1.47 million shares worth $68.76 million, making up 1.97% of all outstanding shares. On the other hand, Vanguard International Stock Index-Emerging Markets Stk held roughly 0.79 million shares worth around $35.79 million, which represents about 1.06% of the total shares outstanding.

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