Danaos Corp. (DAC) Sees Strong Trading Volume
Shares of Danaos Corp. (NYSE:DAC) saw unusually-high trading volume on Friday . Approximately 202,862 shares were traded during trading, an increase of 261% from the previous session’s volume of 56,272 shares.The stock last traded at $3.78 and had previously closed at $3.28.
DAC has been the topic of several analyst reports. Jefferies Group reiterated a “hold” rating and set a $5.00 price target on shares of Danaos Corp. in a research report on Friday, May 6th. Zacks Investment Research upgraded Danaos Corp. from a “strong sell” rating to a “strong-buy” rating and set a $3.50 price target on the stock in a research report on Wednesday.
The firm’s 50 day moving average is $3.27 and its 200 day moving average is $4.10. The company has a market cap of $443.52 million and a PE ratio of 3.39.
Danaos Corp. (NYSE:DAC) last announced its earnings results on Wednesday, May 4th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.02. During the same period in the previous year, the business posted $0.28 earnings per share. The firm earned $137.47 million during the quarter, compared to analysts’ expectations of $138.95 million. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities analysts predict that Danaos Corp. will post $1.59 EPS for the current year.
A hedge fund recently raised its stake in Danaos Corp. stock. Neuberger Berman Group LLC boosted its stake in Danaos Corp. (NYSE:DAC) by 1.7% during the fourth quarter, Holdings Channel reports. The fund owned 1,714,762 shares of the company’s stock after buying an additional 28,995 shares during the period. Neuberger Berman Group LLC owned about 1.56% of Danaos Corp. worth $10,271,000 at the end of the most recent reporting period.
Danaos Corporation is a holding company and an international owner of containerships, chartering its vessels to a range of liner companies. The Company’s principal business is the acquisition and operation of vessels. The Company conducts its operations through the vessel owning companies, whose principal activity is the ownership and operation of containerships that are under the management of a related party of the company.
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