Daqo Posts $194.2M Q3 Revenue, Rebounds Sharply From Q2's $62.7M
DQ is trading near its 52-week low of $9.89 (1.1% above the low).
Summary
Daqo reported Q3 revenue of $194.2M, a sharp rebound from the $62.7M it booked in Q2, when polysilicon prices collapsed and revenue missed consensus by 67%. The Q3 top-line jump came on higher polysilicon sales volume, and the company posted a Q3 net loss of $52.9M, or 78 cents a share, narrowing from the $81.2M adjusted net loss it booked in Q2. The stock trades near its 52-week low of $9.89, so any sign the worst of the downturn has passed is a big deal for a name this beaten down. The release was flagged in the 6-K filed October 13 announcing today's pre-market results.
At the time of this announcement, DQ was trading at $10.00 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $684.1M. The 52-week trading range was $9.89 to $36.59. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.