Danaos Co. (NYSE:DAC) Short Interest Up 18.5% in January

Danaos Co. (NYSE:DAC) was the target of a large increase in short interest during 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 volume of 212,800 shares, the short-interest ratio is presently 1.9 days. Currently, 3.8% of the shares of the company are short sold.

Several research firms recently issued reports on DAC. Zacks Investment Research upgraded Danaos from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 4th. 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 downgraded Danaos from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Finally, Citigroup started coverage on shares of Danaos in a research report on Thursday, January 30th. They issued a “neutral” rating and a $8.00 target price for the company.

NYSE DAC traded down $0.06 during trading on Friday, reaching $6.85. The company’s stock had a trading volume of 120,785 shares, compared to its average volume of 139,274. 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 firm has a market capitalization of $140.38 million, a price-to-earnings ratio of 0.84 and a beta of 1.23. Danaos has a 12 month low of $5.36 and a 12 month high of $15.40. The firm has a 50 day moving average price of $7.80 and a 200 day moving average price of $8.52.

Danaos (NYSE:DAC) last announced its earnings results on Monday, February 10th. The shipping company reported $2.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.34. The company had revenue of $110.20 million for the quarter, compared to analysts’ expectations of $103.20 million. Danaos had a net margin of 29.35% and a return on equity of 19.63%. On average, equities analysts forecast that Danaos will post 5.91 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Patriot Financial Group Insurance Agency LLC bought a new stake in Danaos during the third quarter worth about $32,000. Creative Planning bought a new stake in Danaos during the third quarter worth $90,000. FNY Investment Advisers LLC bought a new stake in Danaos during the fourth quarter worth $105,000. Renaissance Technologies LLC boosted its holdings in shares of Danaos by 151.2% in the 4th quarter. Renaissance Technologies LLC now owns 154,552 shares of the shipping company’s stock valued at $1,419,000 after purchasing an additional 93,021 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new stake in shares of Danaos in the 4th quarter valued at $230,000. Hedge funds and other institutional investors own 12.73% of the company’s stock.

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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