May 29, 2020

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Notable News Spotlight: Daqo New Energy Corp. (NYSE:DQ)

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Daqo New Energy Corp. (NYSE:DQ) spotted trading -14.16% off 52-week high price. On the other end, the stock has been noted 94.88% away from the low price over the last 52-weeks. The stock changed -6.15% to recent value of $39.66. The stock transacted 518898 shares during most recent day however it has an average volume of 233.15K shares. The company has 13.46M of outstanding shares and 2.96M shares were floated in the market.

On Aug. 14, 2019, Daqo New Energy Corp. (NYSE:DQ) a leading manufacturer of high-purity polysilicon for the global solar PV industry, revealed its unaudited financial results for the second quarter of 2019.

Second Quarter 2019 Financial and Operating Highlights

  • Polysilicon production volume of 7,151 MT in Q2 2019, compared to 8,764 MT in Q1 2019
  • Polysilicon sales volume of 7,130 MT in Q2 2019, compared to 8,450 MT in Q1 2019
  • Polysilicon average total production cost of $8.12 /kg in Q2 2019, compared to $7.42 /kg in Q1 2019
  • Polysilicon average cash cost of $6.65/kg in Q2 2019, compared to $6.20/kg in Q1 2019
  • Polysilicon average selling price (ASP) was $9.10/kg in Q2 2019, compared to $9.55/kg in Q1 2019
  • Revenue from continuing operations was $66.0 million in Q2 2019, compared to $81.2 million in Q1 2019
  • Gross profit from continuing operations was $8.6 million in Q2 2019, compared to $18.3 million in Q1 2019. Gross margin from continuing operations was 13.0% in Q2 2019, compared to 22.6% in Q1 2019
  • EBITDA (non-GAAP) from continuing operations was $10.2 million in Q2 2019, compared to $20.0 million in Q1 2019. EBITDA margin (non-GAAP) (2) from continuing operations was 15.5% in Q2 2019, compared to 24.6% in Q1 2019.
  • Adjusted net income (non-GAAP) attributable to Daqo New Energy shareholders was $2.3 million in Q2 2019, compared to $11.1 million in Q1 2019 and $18.2 million in Q2 2018.
  • Adjusted earnings per basic American Depository Share (ADS) (non-GAAP) (2) was $0.17 in Q2 2019, compared to $0.83 in Q1 2019, and $1.44 in Q2 2018.
  • Net loss from continuing operations was $2.7 million in Q2 2019, compared to net income from continuing operations of $5.9 million in Q1 2019 and $10.9 million in Q2 2018.
  • Net income from discontinued operations was $0.5 million in Q2 2019, compared to $0.8 million in Q1 2019 and $2.7 million in Q2 2018.
  • Net loss attributable to Daqo New Energy shareholders was $2.2 million in Q2 2019, compared to net income attributable to Daqo New Energy shareholders of $6.6 million in Q1 2019 and $13.4 million in Q2 2018.
  • Loss per basic ADS was $0.16 in Q2 2019, compared to earnings per basic ADS of $0.50 in Q1 2019, and $1.06 in Q2 2018.

Its earnings per share (EPS) expected to touch remained -46.90% for this year while earning per share for the next 5-years is expected to reach at 9.67%. DQ has a gross margin of 25.60% and an operating margin of 17.90% while its profit margin remained 4.60% for the last 12 months.

According to the most recent quarter its current ratio was 0.9 that represents company’s ability to meet its current financial obligations. The price moved ahead of -6.81% from the mean of 20 days, -6.85% from mean of 50 days SMA and performed 16.80% from mean of 200 days price. Company’s performance for the week was -3.95%, -5.75% for month and YTD performance remained 69.49%.

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