Danaos Corp. (DAC) Sees Unusually-High Trading Volume
Shares of Danaos Corp. (NYSE:DAC) saw unusually-strong trading volume on Friday . Approximately 202,862 shares changed hands during mid-day 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.
Several equities analysts recently issued reports on DAC shares. Zacks Investment Research raised Danaos Corp. from a “strong sell” rating to a “strong-buy” rating and set a $3.50 price objective on the stock in a research report on Wednesday. Jefferies Group reaffirmed a “hold” rating and issued a $5.00 price objective on shares of Danaos Corp. in a research report on Friday, May 6th.
The stock’s 50-day moving average is $3.27 and its 200-day moving average is $4.10. The firm has a market cap of $443.52 million and a price-to-earnings ratio of 3.39.
Danaos Corp. (NYSE:DAC) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The company had revenue of $137.47 million for the quarter, compared to the consensus estimate of $138.95 million. The business’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 EPS. Equities analysts anticipate that Danaos Corp. will post $1.59 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Danaos Corp. stock. Neuberger Berman Group LLC increased its stake in shares of Danaos Corp. (NYSE:DAC) by 1.7% during the fourth quarter, Holdings Channel reports. The institutional investor 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 as of its most recent SEC filing.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.