Revenue Update on Daqo New Energy Corp(NYSE:DQ)

Daqo New Energy Corp(NYSE:DQ) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $71.02M. Analysts estimated a revenue of $60.35M. Earnings per share were $2.08. Analysts had estimated an EPS of $1.02.

Daqo New Energy Corp (DQ) made into the market gainers list on Wednesdays trading session with the shares advancing 3.28% or 0.76 points. Due to strong positive momentum, the stock ended at $23.96, which is also near the day’s high of $24.23. The stock began the session at $23.19 and the volume stood at 59,320 shares. The 52-week high of the shares is $27.6 and the 52 week low is $11.02. The company has a current market capitalization of $250 M and it has 1,04,33,463 shares in outstanding.

Daqo New Energy Corp. is a holding company. The Company is a polysilicon manufacturer. It manufactures and sells polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots wafers cells and modules for solar power solutions. Its segments include Polysilicon and Wafer. Its operations are located in Chongqing and Xinjiang which are in southwestern and northwestern China. The Company sells polysilicon to China-based photovoltaic product manufacturers. It offers ready-to-use polysilicon packaged to meet crucible stacking pulling and solidification needs. It also offers wafers through its downstream photovoltaic product manufacturing business. Its photovoltaic product customers include operating entities of Jiangsu Meike Silicon Energy JinkoSolar JA Solar Shanghai Alex New Energy and LDK Solar.

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