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Stock Alert: Daqo New Energy Up 8% On Higher Profit For FY20

Daqo New Energy Corp. (DQ) shares are trending up on Thursday morning trade as the manufacturer of high-purity polysilicon reported an increase in its fiscal earnings.

Currently, shares are at $81.48, up 8.80 percent from the previous close of $74.89. For the 52-week period, the shares have traded in a range of $9.01-$130.33 on average volume of 2,949,743.

In its filing on Form 20-F for the fiscal year, the company reported net income climbed to $133.81 million from $29.52 million in the prior year. The company reported an increase in earnings per share to $1.72, from $0.42.

Revenue for the fiscal increased to $675.60 million from $349.99 million.

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