Danaos (NYSE:DAC) Cut to “Sell” at ValuEngine
Separately, Zacks Investment Research cut shares of Danaos from a strong-buy rating to a hold rating in a research note on Friday, October 11th.
Shares of Danaos stock traded down $0.57 during trading hours on Thursday, reaching $11.32. The company’s stock had a trading volume of 10,786 shares, compared to its average volume of 13,271. The firm has a 50 day moving average price of $10.50 and a 200-day moving average price of $9.06. Danaos has a one year low of $6.65 and a one year high of $16.66. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.55 and a quick ratio of 0.51. The stock has a market cap of $188.79 million, a P/E ratio of 0.92 and a beta of 1.26.
A hedge fund recently bought a new stake in Danaos stock. Creative Planning purchased a new position in shares of Danaos Co. (NYSE:DAC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,000 shares of the shipping company’s stock, valued at approximately $90,000. Creative Planning owned 0.07% of Danaos at the end of the most recent quarter. Hedge funds and other institutional investors own 22.05% of the company’s stock.
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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