– Sectors – Daqo New Energy Corp. (DQ)

June 14, 2024

There’s a “Glitch in the Matrix”… and That Glitch Appears to be the Street’s 2Q24E/2024E Ests. for Daqo; Our Yr-End 2024E PT Adjusts Lower to $12.51/shr (-37.4% Downside from Yesterday’s Closing Price), From $19.66/shr Prior; SELL

By Gordon L. Johnson II

This (i.e., Modeling Daqo’s Fundamentals) Isn’t Hard Folks. This week, we decided to update our bottoms-up Daqo earnings-driver model, and, OH BOY, were we surprised. In brief, in what follows, we detail why we see…

June 22, 2023

After Updating Our Bottom-Up Daqo Model to Reflect the -66% YTD Drop in Poly-Si Prices, We Believe Consensus has Some “Explaining” to Do; Our 2023E Yr-End PT Drops to $19.66/shr

By Gordon L. Johnson II

Consensus Seems to Be Asleep at the Wheel w/ Respect to Daqo’s 2023E EPS Estimate. Despite the fact that mono poly-Si prices are down -76.7% YoY as of 6/21/23 (Ex. 1), the Consensus 2023E EPS…

March 1, 2023

“Beware the Ides of March”, or in this Case Severe Deflation Set to Take Hold of Global Polysilicon Prices

By Gordon L. Johnson II

Daqo Just Reported 4Q22 Results that Missed Consensus by a “Nautical Mile” (as we warned 11/30/22). Yesterday, before the open, global polysilicon bellwether Daqo New Energy (“DQ”) reported 4Q22 rev/EBITDA/GAAP-EPS of $864M/$648M/$4.71, respectively, sharply missing…

November 30, 2022