Daqo New Energy Corp. (NYSE:DQ) marked $61.66 per share on Tuesday, up from a previous closing price of $61.23. While Daqo New Energy Corp. has overperformed by 0.70%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, DQ rose by 1.03%, with highs and lows ranging from $81.10 to $32.20, whereas the simple moving average jumped by 20.09% in the last 200 days.
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On May 04, 2022, JP Morgan Upgraded Daqo New Energy Corp. (NYSE: DQ) to Overweight. A report published by Daiwa Securities on August 31, 2021, Downgraded its rating to ‘Outperform’ for DQ. Nomura also Upgraded DQ shares as ‘Neutral’, setting a target price of $53 on the company’s shares in a report dated August 19, 2021. HSBC Securities Initiated an Buy rating on June 10, 2021, and assigned a price target of $112. JP Morgan June 07, 2021d its ‘Overweight’ rating to ‘Neutral’ for DQ, as published in its report on June 07, 2021. Goldman also rated the stock as ‘Buy’.
Analysis of Daqo New Energy Corp. (DQ)
Further, the quarter-over-quarter increase in sales is 59.70%, showing a positive trend in the upcoming months.
In order to gain a clear picture of Daqo New Energy Corp.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of 44.60% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 2.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 1.64M can be a very valuable indicator of volatility for DQ stock. On a monthly basis, the volatility of the stock is set at 6.99%, whereas on a weekly basis, it is put at 6.77%, with a gain of 2.19% over the past seven days. Furthermore, long-term investors anticipate a median target price of $85.68, showing growth from the present price of $61.66, which can serve as yet another indication of whether DQ is worth investing in or should be passed over.
How Do You Analyze Daqo New Energy Corp. Shares?
The China based company Daqo New Energy Corp. (DQ) is one of the biggest names in Semiconductor Equipment & Materials. When comparing Daqo New Energy Corp. shares with other companies under Technology, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 3.93, there is a growth in quarterly earnings of 89.50%.
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 76.40%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 59.40% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in DQ shares?
The recent increase in stakes in DQ appears to be a result of several institutional investors and hedge funds increasing their positions. BNP Paribas Asset Management UK L’s position in DQ has increased by 11.12% in the first quarter. The company now owns 3,585,266 shares of the stock, with a value of $255.92 million, following the purchase of 358,834 additional shares during the last quarter. Templeton Asset Management Ltd. made another increased to its shares in DQ during the first quarter, upping its stake by 13.39%. During the last quarter, the company dropped down 380,096 additional shares for a total stake of worth $229.71 million, bringing number of shares owned by the company to 3,218,167.
During the first quarter, Invesco Capital Management LLC subtracted a -319,972 position in DQ. BlackRock Fund Advisors sold an additional 53640.0 shares in the last quarter, decreasing its holdings by -1.91%, now holding 2.76 million shares worth $196.97 million. At the end of the first quarter, The Vanguard Group, Inc. decreased its DQ holdings by -0.98% and now holds 1.72 million DQ shares valued at $122.73 million with the lessened 16992.0 shares during the period. DQ shares are owned by institutional investors to the tune of 59.40% at present.