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Daqo New Energy (DQ) Stock Moves -1.57%: What You Should Know

·2 min read

In the latest trading session, Daqo New Energy (DQ) closed at $40.20, marking a -1.57% move from the previous day. This change was narrower than the S&P 500's 2.12% loss on the day. At the same time, the Dow lost 1.78%, and the tech-heavy Nasdaq gained 0.48%.

Coming into today, shares of the solar panel parts maker had lost 4.47% in the past month. In that same time, the Basic Materials sector gained 0.9%, while the S&P 500 lost 3.91%.

Wall Street will be looking for positivity from Daqo New Energy as it approaches its next earnings report date. On that day, Daqo New Energy is projected to report earnings of $2.34 per share, which would represent year-over-year growth of 143.75%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $510.3 million, up 105.99% from the year-ago period.

Investors should also note any recent changes to analyst estimates for Daqo New Energy. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.8% higher. Daqo New Energy currently has a Zacks Rank of #3 (Hold).

Investors should also note Daqo New Energy's current valuation metrics, including its Forward P/E ratio of 2.85. This valuation marks a discount compared to its industry's average Forward P/E of 16.19.

The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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