Daqo New Energy Corp ADR (NYSE:DQ) price on current trading day, rose 15.55% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $25.42.
A look at the stock’s price movement, the level at last check in today’s session was $22.00, moving within a range at $24.42 and $26.48. The beta value (5-Year monthly) was 0.32. Turning to its 52-week performance, $30.03 and $13.62 were the 52-week high and 52-week low respectively. Overall, DQ moved 37.04% over the past month.
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Daqo New Energy Corp ADR’s market cap currently stands at around $1.67 billion, with investors looking forward to this quarter’s earnings report slated for on 2024-Oct-30.
Analysts have a consensus estimate of 187.93M for the company’s revenue for the quarter, with a low and high estimate of 186.9M and 188.95M respectively. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 1.09B, representing a -53.00% 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 100% Buy. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy 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 20.39% and 42.08% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 67.95, while 7-day volatility ratio is 6.06% and 7.10% in the 30-day chart. Further, Daqo New Energy Corp ADR (DQ) has a beta value of 0.33, and an average true range (ATR) of 1.77. 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 $34.05. Looking at the price targets, the low is 50.79% off recent price level in today’s trading while to achieve the yearly target high, it has to move -33.95%. Nonetheless, investors will most likely welcome a -15.26% 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 1.06 over the past 10 days and 959.63K over the past 3 months. The company’s latest data on shares outstanding shows there are 65.70 million shares.
The 1.04% of Daqo New Energy Corp ADR’s shares are in the hands of company insiders while institutional holders own 43.73% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 3.57 million on 2024-09-30, giving us a short ratio of 4.47. The data shows that as of 2024-09-30 short interest in Daqo New Energy Corp ADR (DQ) stood at 777.0 of shares outstanding, with shares short falling to 3.99 million registered in 2024-08-30. Current price change has pushed the stock -4.44% 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.
