Danaos (NYSE:DAC) Reaches New 12-Month High at $86.48

Danaos Co. (NYSE:DACGet Free Report)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $86.48 and last traded at $86.31, with a volume of 87244 shares traded. The stock had previously closed at $86.22.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 price objective on shares of Danaos in a research report on Wednesday, February 14th.

Get Our Latest Analysis on Danaos

Danaos Stock Up 2.7 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 2.98 and a quick ratio of 2.84. The business has a 50 day simple moving average of $76.24 and a 200 day simple moving average of $73.53. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 3.05 and a beta of 1.30.

Institutional Trading of Danaos

Hedge funds have recently modified their holdings of the stock. Tidal Investments LLC raised its stake in Danaos by 3.3% in the first quarter. Tidal Investments LLC now owns 11,905 shares of the shipping company’s stock valued at $860,000 after buying an additional 382 shares in the last quarter. Murchinson Ltd. acquired a new stake in Danaos in the first quarter valued at $650,000. O Shaughnessy Asset Management LLC raised its stake in Danaos by 55.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 24,694 shares of the shipping company’s stock valued at $1,783,000 after buying an additional 8,839 shares in the last quarter. Acadian Asset Management LLC raised its stake in Danaos by 41.3% in the first quarter. Acadian Asset Management LLC now owns 591,001 shares of the shipping company’s stock valued at $42,647,000 after buying an additional 172,832 shares in the last quarter. Finally, Foundry Partners LLC raised its stake in Danaos by 11.8% in the first quarter. Foundry Partners LLC now owns 86,893 shares of the shipping company’s stock valued at $6,274,000 after buying an additional 9,182 shares in the last quarter. 19.01% of the stock is currently owned by institutional investors and hedge funds.

Danaos Company Profile

(Get Free Report)

Danaos Corporation, together with its subsidiaries, provides container and drybulk vessels services in Australia, Asia, and Europe. The company offers seaborne transportation services by operating vessels in the containership and drybulk sectors of the shipping industry. As of April 03, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.

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