Why Daqo New Energy Corp (ADR)’s (DQ) Stock Is Down 6.35% (2024)

Avoid the stress of overpaying for a stock or missing an opportunity by using the right tools and insights to evaluate Daqo New Energy Corp (ADR) before investing.

In this article, we go over a few key elements for understanding Daqo New Energy Corp (ADR)’s stock price such as:

Before we jump into Daqo New Energy Corp (ADR)’s stock price, history, target price and what caused it to recently dip, let’s take a look at some background.

Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company's segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions. The Company offers ready-to-use polysilicon, packaged to meet crucible stacking, pulling and solidification needs. The Company offers wafers through its downstream photovoltaic product manufacturing business. The Company also provides wafer original equipment manufacturer (OEM) service to external customers through tolling agreements by processing polysilicon to produce ingot and wafer. Its annual capacity for polysilicon is approximately 12,150 metric tons (MT) in Xinjiang. The Company's wafer manufacturing annual capacity is approximately 90 million pieces.

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As of January 24, 2024, 4:00 PM, CST, Daqo New Energy Corp (ADR)’s stock price was $19.63.

Daqo New Energy Corp (ADR) is down 6.35% from its previous closing price of $20.96.

During the last market session, Daqo New Energy Corp (ADR)’s stock traded between $20.44 and $22.23. Currently, there are 14.83 million shares of Daqo New Energy Corp (ADR) stock available for purchase.

Daqo New Energy Corp (ADR)’s price-earnings (P/E) ratio is currently at 2.4, which is low compared to the Renewable Energy Equipment & Services industry median of 23.3. The price-earnings ratio gauges market expectation of future performance by relating a stock’s current share price to its earnings per share.

Daqo New Energy Corp (ADR)’s (DQ) price is currently down 26.2% so far this month.

During the month of January, Daqo New Energy Corp (ADR)’s stock price has reached a high of $26.18 and a low of $19.52.

Over the last year, Daqo New Energy Corp (ADR) has hit prices as high as $55.60 and as low as $19.52. Year to date, Daqo New Energy Corp (ADR)’s stock is down 49.16%.

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Stock prices are primarily based on seller supply and buyer demand. But have you ever wondered about what other factors affect a stock's price?

One of the most common factors that can drastically impact a stock’s price is analyst upgrades and downgrades. When an analyst changes their opinion of a stock by upgrading or downgrading their rating, it often leads to a sudden stock price adjustment. However, as of January 23, 2024,, no analysts have changed their rating of Daqo New Energy Corp (ADR)’s stock over the last month.

Additionally, you'll want to evaluate Daqo New Energy Corp (ADR)’s financial health and valuation. Investors can use AAII's Value Grade, which combines six key valuation metrics like P/E and P/S ratios for a comprehensive analysis to conduct analysis on Daqo New Energy Corp (ADR)’s valuation and financial health. This approach mitigates the limitations of single-metric evaluations.

Daqo New Energy Corp (ADR)’s current valuation based on AAII’s Value Grade is a A, which means it is considered to be Deep Value.

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Lastly, news and media coverage as well as recent press reports about the company or its industry may cause stock prices to fluctuate. You can check out the most recent news articles about Daqo New Energy Corp (ADR) (DQ) by visiting AAII Stock Evaluator.

Relative price strength measures a stock's performance against the market, helping investors identify stocks that are outperforming benchmarks.

For AAII’s Momentum Grade, a weighted relative price strength is calculated. Follow this link to learn more about the Momentum Grade.

As of January 23, 2024, Daqo New Energy Corp (ADR) has a weighted four-quarter relative price strength of -22.87%, which translates to a Momentum Score of 16 and is considered to be Very Weak.

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As of January 24, 2024, Daqo New Energy Corp (ADR)’s stock price is $19.63, which is down 6.35% from its previous closing price.

AAII advises against making stock decisions based solely on price or past returns. Instead, consider a variety of metrics, fundamentals, and analytics to evaluate a stock like Daqo New Energy Corp (ADR) stock prices are influenced by market supply and demand and offer just a snapshot of a company's overall health.

Subscribing to AAII's A+ Investor provides access to comprehensive analytics and insights for confident investing.