The stock of Danaos Corporation (NYSE:DAC) is a huge mover today! About 551,048 shares traded hands or 697.76% up from the average. Danaos Corporation (NYSE:DAC) has declined 16.67% since April 14, 2016 and is downtrending. It has underperformed by 21.35% the S&P500.
The move comes after 5 months positive chart setup for the $672.94 million company. It was reported on Nov, 16 by Barchart.com. We have $6.06 PT which if reached, will make NYSE:DAC worth $275.91 million more.
According to Zacks Investment Research, “Danaos Corporation is a leading international owner of containerships, chartering vessels to many of the world’s largest liner companies. Danaos was set up by Dimitri Coustas, an experienced shipping investor who had been active in the industry. Having consistently developed sea transport services throughout its history, Danaos has forged a reputation for high-quality operational support to liner companies and other charterers throughout the world. The Company currently have a fleet of containerships aggregating TEU, making us among the largest containership charter owners in the world. We charter our containerships to a geographically diverse group of liner companies, including most of the largest ones globally. Such customers include Maersk, COSCO, Hapag-Lloyd, CMA-CGM, Neptune Orient Lines, Yang Ming, China Shipping, Norasia Container Lines Ltd, Hyundai Merchant Marine Co., Wan-Hai Lines and Zim Israel Integrated Shipping Services Ltd.”
More notable recent Danaos Corporation (NYSE:DAC) news were published by: Prnewswire.com which released: “Danaos Corporation Receives Notice that Counterparty has Entered into Court …” on September 01, 2016, also Zacks.com with their article: “3 Reasons Why Danaos Corporation (DAC) is a Great Value Stock” published on July 08, 2016, Quotes.Wsj.com published: “News Danaos Corp.DAC” on February 11, 2011. More interesting news about Danaos Corporation (NYSE:DAC) were released by: Marketwired.com and their article: “Danaos Corporation Announces Availability of Its Annual Report on Form 20-F …” published on March 18, 2016 as well as Seekingalpha.com‘s news article titled: “Danaos Corporation’s (DAC) CEO John Coustas on Q1 2016 Results – Earnings Call …” with publication date: May 05, 2016.
DAC Company Profile
Danaos Corporation, incorporated on October 7, 2005, is a holding firm and an international owner of containerships, chartering its vessels to a range of liner companies. The Company’s principal business is the acquisition and operation of vessels. It conducts its activities through the vessel owning companies, whose principal activity is the ownership and operation of containerships that are under the management of a related party of the company. The Company’s manager is Danaos Shipping Company Limited (Danaos Shipping).
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