Daqo New Energy Corp. (NYSE:DQ) saw an upside of 2.98% to $38.00 after adding $1.1 on Wednesday. The 5-day average trading volume is 1,580,263 shares of the company’s common stock. It has gained $38.77 in the past week and touched a new high 4 times within the past 5 days. An average of 947,646 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 926,236.
DQ’s 1-month performance is -2.26% or -$0.95 on its low of $33.40 reached on 08/03/23. The company’s shares have touched a 52-week low of $33.40 and high of $73.36, with the stock’s rally to the 52-week high happening on 03/06/23. YTD, DQ has lost -1.58% or -$0.33 and has reached a new high 9 times. However, the current price is down -48.20% from the 52-week high price.
Valuation Metrics
DQ stock has a beta of 0.54. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.81 while the price-to-book (PB) in the most recent quarter is 0.60, with the price to cash flow ratio at 2.08.
Daqo New Energy Corp.’s quick ratio for the period ended June 29 was 5.80, with the current ratio over the same period at 6.00. In terms of profitability, the gross margin trailing 12 months is 70.30%. The trailing 12-month EBITDA margin is 68.37% while for the period ending June 29, Daqo New Energy Corp.’s operating margin was 58.10%. The firm’s gross profit as reported stood at $3.41 billion against revenue of $4.61 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Daqo New Energy Corp.’s cash and short-term investments amounted to $13.93 million. Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 58.85% to $1.82 billion, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected DQ to announce $4.67 per share in earnings in its latest quarter, but it posted $1.6, representing a -65.70% surprise. EBITDA for the quarter stood at more than $213.87 million.
Let’s look briefly at Daqo New Energy Corp. (DQ) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 54.53% to suggest the stock is trending Neutral, with historical volatility in this time period at 58.68%.
The stock’s 5-day moving average is $36.63, reflecting a +6.17% or $2.23 change from its current price. DQ is currently trading -4.53% above its 20-day SMA, -20.62% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +0.22% and SMA200 by-19.45%.
Stochastic %K and %D was 61.29% and 50.38% and the average true range (ATR) pointed at 1.71. The RSI (14) points at 51.51%, while the 14-day stochastic is at 72.44% with the period’s ATR at 1.65. The stock’s 9-day MACD Oscillator is pointing at 0.34 and 0.20 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Daqo New Energy Corp. (NYSE: DQ), Nomura upgraded it to a Buy rating. They previously had a Neutral rating on the stock. Analysts offering their rating for DQ stock have a consensus rating for the stock as Overweight. Currently, 1 brokerage advisors rate DQ as a “sell,”, while 5 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 2 rates the stock as overweight while 4 have offered a “buy” rating.
What is DQ’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $19.66 and a high of $87.00, with their median price target at $45.00. Looking at these predictions, the average price target given by analysts is for Daqo New Energy Corp. (DQ) stock is $46.84.
