RTTNews | Aug 18, 2021 10:55AM EDT

10:54 Wednesday, August 18, 2021 (RTTNews.com) - Shares of polysilicon maker Daqo New Energy Corp. (DQ) are down 5 percent on Wednesday's trading even as the company posted higher second-quarter profit and also lifted its production guidance.

Net income in the second quarter increased to $232.1 million or $3.15 per ADS from $2.4 million or $0.03 per ADS last year. Excluding items, earnings were $3.18 per ADS.

Revenue for the quarter jumped to $441.37 million from $133.52 million in the same quarter a year ago.

Looking forward to the full year, the company raises its production guidance to the level of 83,000 MT to 85,000 MT of polysilicon from 81,000 MT to 83,000 MT, inclusive of the impact of the company's annual facility maintenance.

Currently at $46.89, the stock has traded between $18.22 and $130.33 during the past 52 weeks.

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