Daqo New Energy Corp. [DQ] gain 29.78% so far this year. What now?

Daqo New Energy Corp. [NYSE: DQ] loss -7.49% or -6.03 points to close at $74.44 with a heavy trading volume of 2502647 shares. The company report on March 16, 2021 that Daqo New Energy Announces Three-Year High-Purity Polysilicon Supply Agreement with Gaojing Solar.

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Daqo New Energy Corp. (NYSE: DQ) (“Daqo New Energy”, the “Company” or “we”), a leading manufacturer of high-purity polysilicon for the global solar PV industry, announced that it signed a three-year high-purity polysilicon supply agreement with Gaojing Solar Energy Technology Co., LTD (“Gaojing”). Gaojing is a newly established advanced solar wafer manufacturer co-founded by a team of senior experts with extensive experience in the solar industry, IDG Capital, a leading investment firm, and Zhuhai’s leading state-owned enterprise Huafa Group.

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The execution of Gaojing’s plan for a 50GW large-size solar wafer capacity will be carried out in three phases. Construction of the first phase, with a production capacity of 15GW, has already begun and is expected to be complete by the end of June 2021 and fully operational by September 2021. Phase II is expected to reach full production capacity of 15GW in 2022, and Phase III will bring additional 20GW of the plan online by the end of 2023.

It opened the trading session at $80.90, the shares rose to $82.86 and dropped to $73.51, the range by which the price of stock traded the whole day. The daily chart for DQ points out that the company has recorded 230.02% gains over the past six months. However, it is still -789.37% lower than its most recent low trading price.

If we look at the average trading volume of 2.85M shares, DQ reached to a volume of 2502647 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Daqo New Energy Corp. [DQ]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DQ shares is $111.24 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DQ stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Daqo New Energy Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 08, 2020. While these analysts kept the previous recommendation, ROTH Capital dropped their target price from $220 to $200. The new note on the price target was released on October 26, 2020, representing the official price target for Daqo New Energy Corp. stock.

The Average True Range (ATR) for Daqo New Energy Corp. is set at 11.20, with the Price to Sales ratio for DQ stock in the period of the last 12 months amounting to 7.85. The Price to Book ratio for the last quarter was 34.62, with the Price to Cash per share for the same quarter was set at 1.08.

Trading performance analysis for DQ stock

Daqo New Energy Corp. [DQ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.17. With this latest performance, DQ shares dropped by -21.85% in over the last four-week period, additionally plugging by 230.02% over the last 6 months – not to mention a rise of 736.78% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DQ stock in for the last two-week period is set at 40.62, with the RSI for the last a single of trading hit 36.78, and the three-weeks RSI is set at 43.53 for Daqo New Energy Corp. [DQ]. The present Moving Average for the last 50 days of trading for this stock 96.37, while it was recorded at 80.67 for the last single week of trading, and 48.04 for the last 200 days.

Daqo New Energy Corp. [DQ]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Daqo New Energy Corp. [DQ] shares currently have an operating margin of +27.78 and a Gross Margin at +34.63. Daqo New Energy Corp.’s Net Margin is presently recorded at +19.14.

Return on Total Capital for DQ is now 18.89, given the latest momentum, and Return on Invested Capital for the company is 16.11. Return on Equity for this stock inclined to 19.43, with Return on Assets sitting at 10.62. When it comes to the capital structure of this company, Daqo New Energy Corp. [DQ] has a Total Debt to Total Equity ratio set at 31.69. Additionally, DQ Total Debt to Total Capital is recorded at 24.06, with Total Debt to Total Assets ending up at 19.62. Long-Term Debt to Equity for the company is recorded at 16.06, with the Long-Term Debt to Total Capital now at 12.20.

Receivables Turnover for the company is 227.25 with a Total Asset Turnover recorded at a value of 0.55.Daqo New Energy Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.60.

Daqo New Energy Corp. [DQ]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Daqo New Energy Corp. posted 0.45/share EPS, while the average EPS was predicted by analysts to be reported at 0.32/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 40.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DQ. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Daqo New Energy Corp. go to 72.80%.

An analysis of insider ownership at Daqo New Energy Corp. [DQ]

There are presently around $3,126 million, or 65.10% of DQ stock, in the hands of institutional investors. The top three institutional holders of DQ stocks are: BLACKROCK INC. with ownership of 5,850,452, which is approximately 519.404% of the company’s market cap and around 76.40% of the total institutional ownership; INVESCO LTD., holding 3,603,766 shares of the stock with an approximate value of $268.26 million in DQ stocks shares; and NINETY ONE UK LTD, currently with $222.48 million in DQ stock with ownership of nearly New of the company’s market capitalization.

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Positions in Daqo New Energy Corp. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 104 institutional holders increased their position in Daqo New Energy Corp. [NYSE:DQ] by around 20,407,117 shares. Additionally, 69 investors decreased positions by around 29,540,873 shares, while 9 investors held positions by with 7,954,311 shares. The mentioned changes placed institutional holdings at 41,993,679 shares, according to the latest SEC report filing. DQ stock had 60 new institutional investments in for a total of 9,588,074 shares, while 22 institutional investors sold positions of 2,194,555 shares during the same period.

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