Daqo New Energy Corp. (NYSE:DQ) closed Thursday at $51.64 per share, down from $55.21 a day earlier. While Daqo New Energy Corp. has underperformed by -6.47%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, DQ fell by -15.44%, with highs and lows ranging from $81.10 to $32.20, whereas the simple moving average jumped by 1.36% in the last 200 days.
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On September 15, 2022, Daiwa Securities Downgraded Daqo New Energy Corp. (NYSE: DQ) to Neutral. A report published by JP Morgan on May 04, 2022, Upgraded its rating to ‘Overweight’ for DQ. Daiwa Securities also Downgraded DQ shares as ‘Outperform’, setting a target price of $76 on the company’s shares in a report dated August 31, 2021. Nomura August 19, 2021d the rating to Neutral on August 19, 2021, and set its price target from $48 to $53. HSBC Securities initiated its ‘Buy’ rating for DQ, as published in its report on June 10, 2021. Jefferies also rated the stock as ‘Buy’.
Analysis of Daqo New Energy Corp. (DQ)
Further, the quarter-over-quarter increase in sales is 181.90%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Daqo New Energy Corp.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of 58.60% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 5.50, 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.
As an indicator of volatility for any stock, average volume can also be very valuable, and DQ is recording an average volume of 1.71M. On a monthly basis, the volatility of the stock is set at 5.49%, whereas on a weekly basis, it is put at 5.78%, with a loss of -10.67% over the past seven days. Furthermore, long-term investors anticipate a median target price of $86.35, showing growth from the present price of $51.64, 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?
Daqo New Energy Corp. (DQ) is based in the China and is one of the most prominent companies operating in the Semiconductor Equipment & Materials market. 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 2.48, there is a growth in quarterly earnings of 170.30%.
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. 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 58.90% 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 decreased by -6.20% in the first quarter. The company now owns 3,362,827 shares of the stock, with a value of $224.2 million, following the sale of -222,439 additional shares during the last quarter. BlackRock Fund Advisors made another increased to its shares in DQ during the first quarter, upping its stake by 18.13%. During the last quarter, the company dropped down 500,224 additional shares for a total stake of worth $217.32 million, bringing number of shares owned by the company to 3,259,654.
During the first quarter, Templeton Asset Management Ltd. subtracted a -112,290 position in DQ. BlackRock Advisors purchased an additional 0.51 million shares in the last quarter, increasing its holdings by 31.31%, now holding 2.13 million shares worth $142.29 million. At the end of the first quarter, HHLR Advisors Ltd. increased its DQ holdings by 1,785.90% and now holds 1.89 million DQ shares valued at $125.73 million with the added 1.79 million shares during the period. DQ shares are owned by institutional investors to the tune of 58.90% at present.