Daqo New Energy Corp ADR (NYSE: DQ) stock jumped 0.67% on Monday to $27.16 against a previous-day closing price of $26.98. With 0.56 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.92 million shares. During the session, the Solar company that operates in wider Technology sector, reached to the highest price of $27.36 whereas the lowest price it dropped to was $26.92. The 52-week range on DQ shows that it touched its highest point at $56.98 and its lowest point at $22.94 during that stretch. It currently has a 1-year price target of $34.13. With its current market cap of 2.04 billion, DQ has annualized dividend of $0.11 while the current yield stands at 0.41%. Beta for the stock currently stands at 0.52.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of DQ was down-trending over the past week, with a drop of -1.38%, but this was up by 9.25% over a month. Three-month performance dropped to -21.05% while six-month performance fell -28.03%. The stock lost -51.18% in the past year, while it has lost -29.66% so far this year. A look at the trailing 12-month EPS for DQ yields 8.79 with Next year EPS estimates of 3.53. For the next quarter, that number is 0.84. This implies an EPS growth rate of -73.55% for this year and -43.99% for next year.
Float and Shares Shorts:
At present, 78.20 million DQ shares are outstanding with a float of 74.48 million shares on hand for trading. On Oct 12, 2023, short shares totaled 4.06 million, which was 5.25% higher than short shares on Sep 14, 2023. In addition to Mr. Xiang Xu as the firm’s Chairman & CEO, Mr. Guangfu Xu serves as its Founder & Director.
Through their ownership of 61.12% of DQ’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 34.67% of DQ, in contrast to 22.75% held by mutual funds. As the largest shareholder in DQ with 3.26% of the stake, Morgan Stanley & Co. LLC holds 2,442,255 shares worth 2,442,255. A second-largest stockholder of DQ, Templeton Asset Management Ltd., holds 2,348,576 shares, controlling over 3.13% of the firm’s shares. Tairen Capital Ltd. is the third largest shareholder in DQ, holding 2,163,363 shares or 2.89% stake. With a 1.96% stake in DQ, the Invesco Solar ETF is the largest stakeholder. A total of 1,466,177 shares are owned by the mutual fund manager. The Mackenzie Greenchip Global Enviro, which owns about 1.55% of DQ stock, is the second-largest Mutual Fund holder. It holds 1,160,000 shares valued at 29.53 million. Templeton Emerging Markets Invest holds 1.44% of the stake in DQ, owning 1,075,768 shares worth 27.39 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for DQ since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With DQ analysts setting a high price target of $67.70 and a low target of $22.80, the average target price over the next 12 months is $34.13. Based on these targets, DQ could surge 149.26% to reach the target high and fall by -16.05% to reach the target low. Reaching the average price target will result in a growth of 25.66% from current levels.