Daqo New Energy Corp ADR (NYSE:DQ) price on Friday, May 23, rose 1.25% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $13.73.
A look at the stock’s price movement, the close in the last trading session was $13.56. Turning to its 52-week performance, $30.85 and $12.40 were the 52-week high and 52-week low respectively. Overall, DQ moved -5.18% over the past month.
Daqo New Energy Corp ADR’s market cap currently stands at around $916.48 million, with investors looking forward to this quarter’s earnings report slated for in June.
Analysts have a consensus estimate of 140.54M for the company’s revenue for the quarter, with a low and high estimate of 136.4M and 144.68M respectively. The average forecast suggests down to a -36.09% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 659.73M, representing a -35.89% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that DQ is a 50% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
3 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 1 recommend DQ as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
DQ’s current price about 0.04% and -10.80% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 43.95, while 7-day volatility ratio is 1.85% and 4.27% in the 30-day chart. Further, Daqo New Energy Corp ADR (DQ) has a beta value of 0.60, and an average true range (ATR) of 0.83. Analysts have given the company’s stock an average 52-week price target of $29.3, forecast between a low of $12.51 and high of $35.54. Looking at the price targets, the low is 8.89% off current price level while to achieve the yearly target high, price needs to move -158.85%. Nonetheless, investors will most likely welcome a -113.4% jump to $29.3 which is the analysts’ median price.
If we refocus on Daqo New Energy Corp ADR (NYSE:DQ), historical trading data shows that trading volumes averaged 933.50K over the past 3 months. The company’s latest data on shares outstanding shows there are 66.75 million shares.
The 0.87% of Daqo New Energy Corp ADR’s shares are in the hands of company insiders while institutional holders own 49.76% of the company’s shares. Current price change has pushed the stock -29.37% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the DQ stock continues to rise going into the next quarter.
