Danaos Co. (NYSE:DAC) saw a large increase in short interest in the month of November. As of November 29th, there was short interest totalling 37,800 shares, an increase of 190.8% from the November 14th total of 13,000 shares. Based on an average daily volume of 161,500 shares, the short-interest ratio is presently 0.2 days. Approximately 1.7% of the company’s shares are sold short.
NYSE DAC traded up $0.83 during trading on Wednesday, hitting $8.44. The company had a trading volume of 281,292 shares, compared to its average volume of 49,438. The company’s fifty day moving average is $9.46 and its 200-day moving average is $9.10. Danaos has a one year low of $5.36 and a one year high of $15.40. The company has a current ratio of 0.57, a quick ratio of 0.53 and a debt-to-equity ratio of 1.80. The company has a market cap of $122.81 million, a price-to-earnings ratio of 0.68 and a beta of 1.12.
Danaos (NYSE:DAC) last announced its earnings results on Monday, November 4th. The shipping company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.32. Danaos had a negative net margin of 18.46% and a positive return on equity of 19.88%. The firm had revenue of $111.83 million for the quarter, compared to analyst estimates of $108.82 million. As a group, equities analysts anticipate that Danaos will post 8.78 EPS for the current year.
A hedge fund recently bought a new stake in Danaos stock. Creative Planning acquired a new position in Danaos Co. (NYSE:DAC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,000 shares of the shipping company’s stock, valued at approximately $90,000. Creative Planning owned 0.07% of Danaos at the end of the most recent reporting period. 20.12% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on DAC. Jefferies Financial Group upgraded Danaos from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a research report on Tuesday, December 3rd. ValuEngine upgraded Danaos from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Zacks Investment Research lowered Danaos from a “buy” rating to a “hold” rating in a research note on Thursday, December 5th.
Danaos Company Profile
Danaos Corporation, together with its subsidiaries, owns and operates containerships in Australia, Asia, Europe, and the United States. The company offers seaborne transportation services, such as chartering its vessels to liner companies. As of February 28, 2019, it had a fleet of 55 containerships aggregating 327,616 twenty foot equivalent units in capacity.
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