Daqo New Energy Corp. (NYSE:DQ) is 1.83 points higher today and the only thing that matters is where they go from here. You simply have to look deeper than the share price and explore the fundamentals and future growth potential. The stock value has climbed by nearly 2.56% to $73.31 from its previous close of $71.48. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 119382 contracts so far this session. DQ shares had a relatively better volume day versus average trading capacity of 237.95 thousand shares, but with a 2.96 million float and a 13.93% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for DQ stock indicates that the average analyst price target is $59.36 per share. This means the stock has a potential decrease of -19.03% from where the DQ share price has been trading recently.
During the recent trading session for Daqo New Energy Corp. (NYSE:DQ), the company witnessed their stock rise $15.43 over a week and surge $19.53 from the price 20 days ago. When compared to their established 52-week high of $75.49, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 12/02/20. The recent low of $30.17 stood for a -2.89% since 03/27/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.67 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Daqo New Energy Corp., the two-week RSI stands at 70.17. This figure suggests that DQ stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current DQ readings is similarly very revealing as it has a stochastic reading of 91.48% at this stage. This figure means that DQ share price today is being oversold.
Technical chart claims that Daqo New Energy Corp. (DQ) would settle between $74.2/share to $76.93/share level. However, if the stock price goes below the $68.94 mark, then the market for Daqo New Energy Corp. becomes much weaker. If that happens, the stock price might even plunge as low as $66.41 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 8.77. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at JP Morgan, assumed coverage of DQ assigning Overweight rating, according to their opinion released on November 14. Credit Suisse, analysts launched coverage of Daqo New Energy Corp. (NYSE:DQ) stock with a Outperform recommendation, according to their flash note issued to investors on August 24. Analysts at Tudor Pickering lowered the stock to a Hold call from its previous Buy recommendation, in a research note that dated back to February 26.
DQ equity has an average rating of 1.8, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated Daqo New Energy Corp. (NYSE:DQ) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, DQ stock price is currently trading at 7.83X forward 12-month Consensus EPS estimates, and its P/E ratio is 42.9 while for the average stock in the same group, the multiple is 32.8. Daqo New Energy Corp. current P/B ratio of 1.8 means it is trading at a discount against its industry’s 7.9.
Daqo New Energy Corp. (DQ)’s current-quarter revenues are projected to climb by nearly 57.1% to hit $118800, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 18.6% from $301600 to a noteworthy $357620. At the other end of the current quarter income statement, Daqo New Energy Corp. is expected to see its adjusted earnings surge by roughly -21.6% to hit $0.91 per share. For the fiscal year, DQ’s earnings are projected to climb by roughly -55.5% to hit $2.45 per share.