Daseke Inc (NASDAQ:DSKE) Sees Significant Decline in Short Interest

Daseke Inc (NASDAQ:DSKE) saw a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 2,220,000 shares, a decrease of 8.3% from the October 31st total of 2,420,000 shares. Approximately 5.3% of the shares of the company are short sold. Based on an average daily trading volume, of 323,500 shares, the days-to-cover ratio is currently 6.9 days.

Several equities research analysts have commented on DSKE shares. Zacks Investment Research upgraded Daseke from a “strong sell” rating to a “hold” rating in a research report on Friday, November 15th. Craig Hallum lowered Daseke from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Finally, ValuEngine lowered Daseke from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $7.50.

In related news, Director Ena Williams acquired 22,000 shares of the stock in a transaction on Friday, September 13th. The shares were acquired at an average price of $3.36 per share, for a total transaction of $73,920.00. Corporate insiders own 29.71% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Wittenberg Investment Management Inc. lifted its position in shares of Daseke by 0.7% during the 2nd quarter. Wittenberg Investment Management Inc. now owns 688,470 shares of the company’s stock valued at $2,478,000 after buying an additional 4,800 shares in the last quarter. Freestone Capital Holdings LLC lifted its position in shares of Daseke by 28.1% during the 2nd quarter. Freestone Capital Holdings LLC now owns 22,770 shares of the company’s stock valued at $82,000 after buying an additional 5,000 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Daseke by 101.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 11,579 shares of the company’s stock valued at $42,000 after buying an additional 5,842 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Daseke by 11.0% during the 3rd quarter. Rhumbline Advisers now owns 71,191 shares of the company’s stock valued at $178,000 after buying an additional 7,071 shares in the last quarter. Finally, Zazove Associates LLC lifted its position in shares of Daseke by 7.4% during the 3rd quarter. Zazove Associates LLC now owns 121,799 shares of the company’s stock valued at $304,000 after buying an additional 8,374 shares in the last quarter. Hedge funds and other institutional investors own 27.93% of the company’s stock.

Shares of NASDAQ:DSKE traded up $0.17 during midday trading on Friday, reaching $2.95. 64,728 shares of the company’s stock traded hands, compared to its average volume of 193,750. Daseke has a 1 year low of $1.46 and a 1 year high of $5.65. The company has a market cap of $179.56 million, a P/E ratio of 6.04 and a beta of 1.46. The company has a debt-to-equity ratio of 6.92, a quick ratio of 1.39 and a current ratio of 1.39. The company has a fifty day simple moving average of $2.89 and a two-hundred day simple moving average of $3.18.

Daseke (NASDAQ:DSKE) last announced its earnings results on Tuesday, November 12th. The company reported ($4.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($3.97). Daseke had a negative net margin of 17.35% and a positive return on equity of 10.65%. The business had revenue of $450.40 million for the quarter, compared to analysts’ expectations of $433.86 million. During the same quarter last year, the business earned $0.01 EPS. The company’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, research analysts forecast that Daseke will post -4.82 EPS for the current fiscal year.

Daseke Company Profile

Daseke, Inc provides transportation and logistics solutions with a focus on flatbed and specialized freight in North America. It operates through two segments, Flatbed Solutions and Specialized Solutions. The company transports aircraft parts, manufacturing equipment, structural steel, pressure vessels, wind turbine blades, heavy machinery, commercial glass, high security cargo, arms, ammunition and explosives, lumber, and building and construction materials.

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