DAQO New Energy Corp.NYSE
Thu, Oct. 6, 3:00 PM
Mon, Sep. 19, 3:20 PM
Tue, Aug. 9, 6:03 AM
Tue, May 10, 6:36 AM
Thu, Mar. 24, 6:04 AM
- DAQO New Energy (NYSE:DQ): Q4 EPS of $0.91 beats by $0.67.
- Revenue of $59.3M (+19.9% Y/Y) beats by $3.65M.
Wed, Mar. 23, 3:05 PM
- Like many other energy names, solar stocks are underperforming (TAN -3.8%) on a day oil prices are giving back some of their recent gains. WTI crude is down 4.3% to $39.69/barrel, and Brent crude down 3.2% to $40.45/barrel. The S&P is down 0.6%, and the Nasdaq down 1%.
- SunEdison (down 12.1%) is among the casualties, as liquidity/solvency fears continue surrounding the beaten-up solar/wind project developer. SunEdison yieldcos TerraForm Power (TERP -3.3%) and TerraForm Global (GLBL -4.7%) are also off.
- SolarCity (SCTY -9.6%), which yesterday afternoon announced the closing of a $131M tax equity solar project fund, is also off sharply. Other notable decliners include SunPower (SPWR -7.4%), First Solar (FSLR -4%), Canadian Solar (CSIQ -4.2%), Sunrun (RUN -4.3%), Enphase (ENPH -6.5%), Daqo (DQ -5%), JinkoSolar (JKS -5.9%), Sky Solar (SKYS -11.1%), and former SunEdison acquisition target Vivint Solar (VSLR -11.3%).
Tue, Mar. 1, 8:39 AM
- Daqo New Energy (NYSE:DQ) has approved the appointment of Qiangmin Zhou, the company's current chief operations officer, as the new chief technology officer, effective today.
- Zhou will replace Guoping Zhu, who has served as CTO since October 2012, and is leaving to pursue other career opportunities at an affiliate of the company.
Tue, Feb. 16, 2:36 PM
- Solar stocks are among the standouts (TAN +6.4%) as the Nasdaq rises 2.1% and the S&P 1.6%. The gains come after Canadian Solar (up 16.6%) hiked its Q4 sales, module shipment, and gross margin guidance.
- SunEdison (SUNE +20.6%), clobbered last week amid a temporary asset sale restraining order that further stoked bankruptcy fears, is rebounding. The gains come in spite of a downgrade to Neutral from BofA/Merrill's Krish Sankar, who's worried about a mixture of financing, legal, and execution issues.
- Yingli (YGE +15.9%), another company that has seen its share of solvency fears, is also up strongly. Other big gainers include SunPower (SPWR +11.2%), SolarCity (SCTY +6.2%), JinkoSolar (JKS +11.6%), Trina (TSL +7.5%), 8point3 Energy (CAFD +8.4%), Enphase (ENPH +7.7%), Daqo (DQ +7.2%), JA Solar (JASO +6.9%), Sky Solar (SKYS +7.5%), and SunEdison acquisition target Vivint Solar (VSLR +9.5%).
- Five days ago: Solar stocks hammered again; SunEdison tumbles after lawsuit
Mon, Feb. 8, 9:43 AM
- Daqo New Energy (DQ -7.8%) sinks deep into the red to start the week.
- DQ shares have fallen 24% over the past 52 weeks.
Dec. 18, 2015, 2:43 PM
- The Nasdaq is down 1.1% and the S&P 1.2%, but solar stocks are once more higher (TAN +1.6%) after the House and Senate officially passed multi-year extensions for the solar investment tax credit (ITC) and wind production tax credit (PTC). The group skyrocketed on Wednesday after Congressional Republicans gave their support to a budget compromise that featured the extensions.
- Notable gainers include SunEdison (SUNE +4.3%), Vivint (VSLR +3.7%), Trina (TSL +4.2%), Sunrun (RUN +7.2%), TerraForm Power (TERP +1.6%), TerraForm Global (GLBL +7.4%), Solar3D (SLTD +6%), ReneSola (SOL +5.6%), and RGS Energy (RGSE +7.3%). RGS, a microcap, could be benefiting from news it has signed a letter of intent for a $5M loan facility.
- SolarCity (SCTY +1.6%) is up moderately after starting the day lower thanks to fresh bearish remarks from Jim Chanos. Canadian Solar (CSIQ +3.1%) is higher after announcing it's partnering with Southern Co. on a new 200MW project. Daqo (DQ +5.5%) is rallying following bullish coverage from Northland Securities.
Dec. 18, 2015, 12:01 PM
- Northland Securities has launched coverage on Daqo (NYSE:DQ) with an Outperform rating and $37 target (over 2x current levels).
- The Chinese polysilicon maker remains down 36% YTD. Unlike many other solar names, Daqo didn't receive much of a lift this week from news Congress is set to extend a U.S. solar tax credit that has been due to expire at the end of 2016.
Nov. 18, 2015, 12:47 PM
Nov. 18, 2015, 5:47 AM
- DAQO New Energy (NYSE:DQ): Q3 EPS of $0.59
- Revenue of $46.56M (-1.5% Y/Y)
Nov. 17, 2015, 3:28 PM
- SunEdison is down 33% as fears about the solar/wind project developer's balance sheet and cash flow profile continue unabated, and 13F filings indicate many hedge funds pared or liquidated their positions in Q3.
- The Guggenheim Solar ETF (TAN -4.8%) has fallen towards $26; the 52-week low (set in September) is $25.25. The Nasdaq and S&P are down modestly.
- Aside from SunEdison and its YieldCos, notable decliners include Canadian Solar (CSIQ -6.7%), SunPower (SPWR -7.5%), Enphase (ENPH -11.1%), SolarEdge (SEDG -7.7%), Daqo (DQ -4.3%), and Sunrun (RUN -4.9%). All but Daqo have strong North American exposure.
- SolarCity (SCTY -7.7%) is also off sharply, though Elon Musk has disclosed fresh purchases over the last few days. JA Solar (JASO -2.6%) is lower in spite of posting a Q3 beat and issuing solid Q4 shipment guidance.
Oct. 2, 2015, 12:13 PM
- Hammered over the last several months as macro concerns and plunging local markets took a toll, U.S.-traded Chinese tech stocks are up strongly (CQQQ +3.2%) today even as the Nasdaq and S&P post modest declines.
- Web/mobile stocks posting big gains include giants Alibaba (BABA +5.3%) and Baidu (BIDU +4.5%), with the former naturally taking Yahoo (YHOO +4%) higher with it. Yahoo rose earlier this week after stating it's still pushing ahead with a spinoff of its 384M-share Alibaba stake.
- Other gainers include Vipshop (VIPS +6.6%), SouFun (SFUN +6.2%), Qihoo (QIHU +6.7%), Youku (YOKU +5.8%), Jumei (JMEI +8%), Bitauto (BITA +5.3%), Weibo (WB +5.9%), Jumei (JMEI +8%), and Cheetah Mobile (CMCM +6.6%). Online travel leaders Ctrip and Qunar are also up big, possibly aided by new efforts from Beijing to boost Macau tourism.
- Solar winners include Yingli (YGE +4.1%), ReneSola (SOL +5.6%), and Daqo (DQ +9.4%).
- ETFs: KWEB, QQQC, EMQQ
Sep. 18, 2015, 1:52 PM
- Roth is reiterating a Buy rating and $35 target on Daqo (NYSE:DQ) after talking with CEO Gongda Yao. It forecasts polysilicon prices will rise with or without a deal ending the U.S. and China's ongoing solar trade dispute, and declares Daqo has the industry's best cost structure and highest polysilicon quality.
- Shares remain down 40% YTD. They trade for just 4.8x a 2016 EPS consensus of $3.28. Nearly $27/share in debt was on the balance sheet at the end of June, to go with over $9/share in cash.