Danaos Co. (NYSE:DAC)’s share price was up 7.2% on Tuesday . The company traded as high as $6.20 and last traded at $6.07, approximately 909,225 shares traded hands during mid-day trading. An increase of 2,608% from the average daily volume of 33,575 shares. The stock had previously closed at $5.66.
A number of analysts recently weighed in on DAC shares. ValuEngine raised shares of Danaos from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Zacks Investment Research raised shares of Danaos from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Thursday, November 7th.
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 firm has a market cap of $87.00 million, a price-to-earnings ratio of 0.51 and a beta of 1.26. The business’s fifty day moving average is $10.57 and its two-hundred day moving average is $9.43.
Danaos (NYSE:DAC) last issued its quarterly 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. The business had revenue of $111.83 million during the quarter, compared to analyst estimates of $108.82 million. Danaos had a negative net margin of 18.46% and a positive return on equity of 19.88%. Research analysts forecast that Danaos Co. will post 8.94 EPS for the current year.
A hedge fund recently bought a new stake in Danaos stock. Patriot Financial Group Insurance Agency LLC purchased a new stake in Danaos Co. (NYSE:DAC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,500 shares of the shipping company’s stock, valued at approximately $32,000. Hedge funds and other institutional investors own 20.12% of the company’s stock.
About Danaos (NYSE:DAC)
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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