What Next for Danaos Corporation (NYSE:DAC) Stock After Increase in Shorted Shares?

May 24, 2018 - By Ellis Scott

Danaos Corporation (NYSE:DAC) Logo

The stock of Danaos Corporation (NYSE:DAC) registered an increase of 191.84% in short interest. DAC’s total short interest was 28,600 shares in May as published by FINRA. Its up 191.84% from 9,800 shares, reported previously. With 32,500 shares average volume, it will take short sellers 1 days to cover their DAC’s short positions. The short interest to Danaos Corporation’s float is 0.07%.

The stock increased 4.00% or $0.05 during the last trading session, reaching $1.3. About 19,863 shares traded. Danaos Corporation (NYSE:DAC) has declined 28.57% since May 24, 2017 and is downtrending. It has underperformed by 40.12% the S&P500.

Danaos Corporation, together with its subsidiaries, owns and operates containerships in Australia, Asia, and Europe. The company has market cap of $142.74 million. The firm offers seaborne transportation services, such as chartering its vessels to liner companies. It has a 1.7 P/E ratio. As of February 28, 2017, it had a fleet of 55 containerships aggregating 329,588 twenty foot equivalent units.

Danaos Corporation (NYSE:DAC) Ratings Chart

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