Danaos (NYSE:DAC) Rating Lowered to “Hold” at StockNews.com

Danaos (NYSE:DAC) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Separately, Jefferies Financial Group reissued a “buy” rating and set a $105.00 target price on shares of Danaos in a research report on Tuesday.

Danaos Trading Up 1.9 %

Shares of Danaos stock traded up $1.58 on Tuesday, hitting $82.69. The stock had a trading volume of 199,003 shares, compared to its average volume of 105,677. The stock has a 50 day moving average of $82.65 and a 200 day moving average of $85.08. Danaos has a twelve month low of $62.60 and a twelve month high of $98.25. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.04 and a current ratio of 4.18. The firm has a market capitalization of $1.61 billion, a P/E ratio of 2.82 and a beta of 1.47.

Hedge Funds Weigh In On Danaos

Large investors have recently modified their holdings of the company. nVerses Capital LLC bought a new position in Danaos during the 2nd quarter valued at $37,000. Farther Finance Advisors LLC bought a new position in Danaos during the 3rd quarter valued at $53,000. Signaturefd LLC lifted its stake in Danaos by 21.4% during the 2nd quarter. Signaturefd LLC now owns 692 shares of the shipping company’s stock valued at $64,000 after acquiring an additional 122 shares in the last quarter. Mather Group LLC. bought a new position in Danaos during the 2nd quarter valued at $76,000. Finally, Blue Trust Inc. lifted its stake in Danaos by 7,620.0% during the 2nd quarter. Blue Trust Inc. now owns 1,158 shares of the shipping company’s stock valued at $107,000 after acquiring an additional 1,143 shares in the last quarter. 19.01% of the stock is currently owned by institutional investors.

Danaos Company Profile

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.