Daqo New Energy (NYSE:DQ) Releases Earnings Results, Misses Estimates By $2.02 EPS

Daqo New Energy (NYSE:DQ) posted its quarterly earnings data on Thursday. The semiconductor company reported ($2.71) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($2.02), Zacks reports. Daqo New Energy had a negative net margin of 9.16% and a negative return on equity of 1.90%. The business had revenue of $195.36 million during the quarter, compared to the consensus estimate of $153.54 million.

Daqo New Energy Stock Performance

Shares of DQ opened at $20.33 on Friday. The company has a 50-day simple moving average of $19.81 and a 200-day simple moving average of $19.17. Daqo New Energy has a 52 week low of $13.62 and a 52 week high of $30.85. The firm has a market capitalization of $1.34 billion, a P/E ratio of -10.99 and a beta of 0.25.

About Daqo New Energy

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.