Short Interest in Dana Incorporated (NYSE:DAN) Grows By 44.9%
Posted by ABMN Staff on Feb 1st, 2021
Dana logoDana Incorporated (NYSE:DAN) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 3,680,000 shares, an increase of 44.9% from the December 31st total of 2,540,000 shares. Based on an average daily trading volume, of 1,310,000 shares, the days-to-cover ratio is currently 2.8 days. Currently, 2.6% of the company’s shares are short sold.
Shares of DAN opened at $19.36 on Monday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.37 and a current ratio of 1.96. Dana has a twelve month low of $4.22 and a twelve month high of $22.69. The firm’s 50 day moving average price is $20.34 and its two-hundred day moving average price is $15.91. The firm has a market cap of $2.80 billion, a P/E ratio of -387.12, a PEG ratio of 1.36 and a beta of 2.60.
In other news, CAO James D. Kellett sold 1,800 shares of Dana stock in a transaction that occurred on Tuesday, November 24th. The shares were sold at an average price of $17.98, for a total transaction of $32,364.00. Following the completion of the sale, the chief accounting officer now owns 2,755 shares in the company, valued at approximately $49,534.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert D. Pyle sold 33,535 shares of Dana stock in a transaction that occurred on Tuesday, December 1st. The stock was sold at an average price of $17.57, for a total transaction of $589,209.95. Following the transaction, the insider now directly owns 57,070 shares in the company, valued at approximately $1,002,719.90. The disclosure for this sale can be found here. 0.80% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Crescent Capital Consulting LLC bought a new stake in shares of Dana in the fourth quarter worth $58,000. Guinness Atkinson Asset Management Inc lifted its position in shares of Dana by 54.9% in the third quarter. Guinness Atkinson Asset Management Inc now owns 4,880 shares of the auto parts company’s stock worth $60,000 after purchasing an additional 1,730 shares in the last quarter. American National Bank bought a new stake in shares of Dana in the third quarter worth $61,000.
Nisa Investment Advisors LLC lifted its position in shares of Dana by 122.5% in the third quarter. Nisa Investment Advisors LLC now owns 6,720 shares of the auto parts company’s stock worth $83,000 after purchasing an additional 3,700 shares in the last quarter.
Finally, Meeder Asset Management Inc. lifted its position in shares of Dana by 10.9% in the third quarter. Meeder Asset Management Inc. now owns 9,830 shares of the auto parts company’s stock worth $122,000 after purchasing an additional 965 shares in the last quarter. 94.29% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on DAN shares. Royal Bank of Canada raised shares of Dana from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $13.00 to $18.00 in a research note on Thursday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Dana from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, January 20th.
Bank of America lowered shares of Dana from a “buy” rating to a “neutral” rating in a research note on Monday, January 11th. Zacks Investment Research raised shares of Dana from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Tuesday, December 29th. Finally, KeyCorp lifted their price target on shares of Dana from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, January 25th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $20.44.
