Separately, Zacks Investment Research raised shares of Danaos from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Thursday, November 7th.
NYSE DAC traded down $0.79 on Wednesday, reaching $9.33. The company had a trading volume of 51,866 shares, compared to its average volume of 23,425. 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 company’s fifty day moving average is $10.98 and its 200 day moving average is $9.61. Danaos has a 52-week low of $6.65 and a 52-week high of $15.82. The stock has a market capitalization of $167.61 million, a P/E ratio of 0.76 and a beta of 1.26.
An institutional investor recently bought a new position in Danaos stock. Creative Planning bought a new position in shares of Danaos Co. (NYSE:DAC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,000 shares of the shipping company’s stock, valued at approximately $90,000. Creative Planning owned approximately 0.07% of Danaos as of its most recent SEC filing. 19.87% of the stock is owned by institutional investors and hedge funds.
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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