Danaos Co. (NYSE:DAC) saw a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 5,100 shares, a drop of 46.3% from the August 30th total of 9,500 shares. Based on an average daily volume of 22,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are short sold.
Several brokerages recently issued reports on DAC. Zacks Investment Research cut shares of Danaos from a “strong-buy” rating to a “hold” rating in a report on Friday. ValuEngine upgraded shares of Danaos from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd.
DAC stock traded up $0.78 on Friday, hitting $11.15. The company had a trading volume of 63,416 shares, compared to its average volume of 54,323. Danaos has a 12-month low of $6.65 and a 12-month high of $18.06. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 1.92. The stock’s 50-day simple moving average is $8.05 and its 200 day simple moving average is $7.54. The stock has a market cap of $169.93 million, a price-to-earnings ratio of 0.91 and a beta of 1.24.
Danaos (NYSE:DAC) last issued its earnings results on Monday, August 5th. The shipping company reported $2.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.10 by $0.14. Danaos had a net margin of 2.14% and a return on equity of 19.24%. The company had revenue of $112.32 million for the quarter, compared to analysts’ expectations of $106.40 million. Research analysts forecast that Danaos will post 8.61 earnings per share for the current year.
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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