Stock Alert: Daqo New Energy Shares Up On Strong Q4

(RTTNews) - Daqo New Energy Corp. (DQ) shares are rising in pre-market today, after the company reported strong Q4 results. The stock has been trading between $30.17 and $81.46 in the past one year, and closed Tuesday's trade at $56.85, up $6.12 or 12.06%.

The company's Q4 net income was $20.1 million or $1.45 per ADS compared to $11.4 million or $0.86 per ADS last year. Adjusted earnings increased to $24.5 million or $1.72 per ADS from $15.7 million or $1.16 per ADS a year ago. Revenues grew to $118.9 million from $75.6 million previous year. The company produced 16,204 MT and sold 13,291 MT of polysilicon during the quarter.

Daqo New Energy expects to produce about 18,000MT - 19,000MT of polysilicon and sell about 17,500MT - 18,500MT of polysilicon to external customers during the first quarter of 2020. For full year 2020, the company expects to produce about 73,000 - 75,000 MT of polysilicon, inclusive of the impact of the annual facility maintenance.