Daqo New Energy Corp ADR [NYSE: DQ] traded at a high on Thursday, posting a 2.01 gain after which it closed the day’ session at $21.28. The company report on February 28, 2024 at 6:00 AM that Daqo New Energy Announces Unaudited Fourth Quarter and Fiscal Year 2023 Results.
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, today announced its unaudited financial results for the fourth quarter and fiscal year of 2023.
The results of the trading session contributed to over 8747737 shares changing hands. Over the past one week, the price volatility of Daqo New Energy Corp ADR stands at 6.66% while the volatility over the past one month is 4.94%.
The market cap for DQ stock reached $1.60 billion, with 78.20 million shares outstanding and 74.55 million shares in the current float. Compared to the average trading volume of 1.09M shares, DQ reached a trading volume of 8747737 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Daqo New Energy Corp ADR [DQ]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DQ shares is $31.41 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 2.00. 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.
Daiwa Securities have made an estimate for Daqo New Energy Corp ADR shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 19, 2023. The new note on the price target was released on August 04, 2023, representing the official price target for Daqo New Energy Corp ADR stock. On December 05, 2022, analysts decreased their price target for DQ shares from 140 to 70.
The Average True Range (ATR) for Daqo New Energy Corp ADR is set at 1.09, with the Price to Sales ratio for DQ stock in the period of the last 12 months amounting to 0.69. The Price to Book ratio for the last quarter was 0.34, with the Price to Cash per share for the same quarter was set at 40.65.
How has DQ stock performed recently?
Daqo New Energy Corp ADR [DQ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.67. With this latest performance, DQ shares gained by 15.28% in over the last four-week period, additionally sinking by -42.64% over the last 6 months – not to mention a drop of -51.83% 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 60.46, with the RSI for the last a single of trading hit 69.60, and the three-weeks RSI is set at 54.47 for Daqo New Energy Corp ADR [DQ]. The present Moving Average for the last 50 days of trading for this stock 21.16, while it was recorded at 19.84 for the last single week of trading, and 29.90 for the last 200 days.
Daqo New Energy Corp ADR [DQ]: Deeper insight into the fundamentals
Daqo New Energy Corp ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.00 and a Current Ratio set at 4.20.
Earnings analysis for Daqo New Energy Corp ADR [DQ]
With the latest financial reports released by the company, Daqo New Energy Corp ADR posted 3.52/share EPS, while the average EPS was predicted by analysts to be reported at 4.95/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -28.90%. 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.
Insider trade positions for Daqo New Energy Corp ADR [DQ]
The top three institutional holders of DQ stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in DQ stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in DQ stock with ownership which is approximately 5.8325%.
