Danaos (NYSE:DAC) Given Buy Rating at Jefferies Financial Group

Danaos (NYSE:DAC)‘s stock had its “buy” rating restated by stock analysts at Jefferies Financial Group in a research note issued on Tuesday,Benzinga reports. They presently have a $105.00 price target on the shipping company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 28.21% from the stock’s current price.

Danaos Trading Up 1.0 %

Shares of Danaos stock traded up $0.79 during trading hours on Tuesday, hitting $81.90. The company’s stock had a trading volume of 66,155 shares, compared to its average volume of 105,070. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.18 and a quick ratio of 4.04. The company has a market capitalization of $1.59 billion, a PE ratio of 2.78 and a beta of 1.47. Danaos has a 12 month low of $62.60 and a 12 month high of $98.25. The stock has a 50 day moving average of $82.65 and a 200 day moving average of $85.08.

Hedge Funds Weigh In On Danaos

Several institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC raised its position in Danaos by 21.4% in the second quarter. Signaturefd LLC now owns 692 shares of the shipping company’s stock valued at $64,000 after purchasing an additional 122 shares during the last quarter. National Bank of Canada FI raised its stake in Danaos by 7.5% during the 2nd quarter. National Bank of Canada FI now owns 3,689 shares of the shipping company’s stock worth $339,000 after buying an additional 257 shares during the period. nVerses Capital LLC raised its position in shares of Danaos by 75.0% during the third quarter. nVerses Capital LLC now owns 700 shares of the shipping company’s stock worth $61,000 after purchasing an additional 300 shares during the period. Tidal Investments LLC grew its position in Danaos by 3.3% in the 1st quarter. Tidal Investments LLC now owns 11,905 shares of the shipping company’s stock valued at $860,000 after purchasing an additional 382 shares during the period. Finally, Morgan Dempsey Capital Management LLC grew its holdings in shares of Danaos by 12.1% during the second quarter. Morgan Dempsey Capital Management LLC now owns 3,811 shares of the shipping company’s stock valued at $352,000 after buying an additional 411 shares during the last quarter. 19.01% of the stock is currently owned by institutional investors and hedge funds.

About Danaos

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.