Danaos Co. (NYSE:DAC) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 399,600 shares, an increase of 18.5% from the January 15th total of 337,200 shares. Based on an average daily trading volume, of 212,800 shares, the short-interest ratio is currently 1.9 days. Currently, 3.8% of the company’s shares are short sold.
Several institutional investors have recently added to or reduced their stakes in DAC. Renaissance Technologies LLC boosted its stake in Danaos by 151.2% during the fourth quarter. Renaissance Technologies LLC now owns 154,552 shares of the shipping company’s stock worth $1,419,000 after acquiring an additional 93,021 shares in the last quarter. Laurion Capital Management LP bought a new stake in Danaos in the fourth quarter valued at $230,000. Marshall Wace North America L.P. acquired a new position in shares of Danaos during the fourth quarter valued at about $140,000. Marshall Wace LLP acquired a new position in shares of Danaos during the fourth quarter valued at about $132,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Danaos during the 4th quarter worth about $105,000. Institutional investors own 12.73% of the company’s stock.
DAC traded down $0.06 during trading on Friday, hitting $6.85. The company’s stock had a trading volume of 120,785 shares, compared to its average volume of 139,274. Danaos has a twelve month low of $5.36 and a twelve month high of $15.40. The company has a quick ratio of 0.53, a current ratio of 0.57 and a debt-to-equity ratio of 1.80. The stock’s fifty day moving average price is $7.80 and its 200-day moving average price is $8.52. The firm has a market capitalization of $140.38 million, a P/E ratio of 0.84 and a beta of 1.23.
Danaos (NYSE:DAC) last announced its quarterly earnings data on Monday, February 10th. The shipping company reported $2.01 EPS for the quarter, topping the consensus estimate of $1.67 by $0.34. The company had revenue of $110.20 million during the quarter, compared to the consensus estimate of $103.20 million. Danaos had a net margin of 29.35% and a return on equity of 19.63%. Equities research analysts expect that Danaos will post 5.91 EPS for the current fiscal year.
A number of brokerages have commented on DAC. ValuEngine cut shares of Danaos from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Jefferies Financial Group raised Danaos from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Tuesday, December 3rd. Citigroup initiated coverage on Danaos in a research report on Thursday, January 30th. They issued a “neutral” rating and a $8.00 price objective for the company. Finally, Zacks Investment Research raised Danaos from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th.
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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