Short Interest in DHT Holdings, Inc. (NYSE:DHT) Declines By 21.3%
by Renee Jackson · The Cerbat GemDHT Holdings, Inc. (NYSE:DHT – Get Free Report) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 3,230,107 shares, a drop of 21.3% from the December 31st total of 4,105,662 shares. Based on an average daily volume of 2,777,131 shares, the days-to-cover ratio is presently 1.2 days. Currently, 2.0% of the shares of the company are sold short. Currently, 2.0% of the shares of the company are sold short. Based on an average daily volume of 2,777,131 shares, the days-to-cover ratio is presently 1.2 days.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. Federated Hermes Inc. raised its position in DHT by 101.6% during the third quarter. Federated Hermes Inc. now owns 2,714 shares of the shipping company’s stock worth $32,000 after acquiring an additional 1,368 shares during the period. Roble Belko & Company Inc purchased a new stake in shares of DHT during the second quarter worth approximately $30,000. PNC Financial Services Group Inc. boosted its holdings in DHT by 190.9% in the second quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the shipping company’s stock valued at $33,000 after purchasing an additional 1,982 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in DHT by 344.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,162 shares of the shipping company’s stock worth $34,000 after purchasing an additional 2,450 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in DHT by 91.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,334 shares of the shipping company’s stock worth $36,000 after purchasing an additional 1,596 shares in the last quarter. Hedge funds and other institutional investors own 58.53% of the company’s stock.
DHT Trading Up 1.6%
Shares of NYSE DHT traded up $0.23 during trading hours on Friday, reaching $14.33. The stock had a trading volume of 2,410,478 shares, compared to its average volume of 2,470,721. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 11.55 and a beta of -0.07. The company has a current ratio of 2.41, a quick ratio of 2.02 and a debt-to-equity ratio of 0.22. DHT has a 52-week low of $8.99 and a 52-week high of $14.35. The business’s fifty day moving average price is $12.87 and its two-hundred day moving average price is $12.34.
DHT (NYSE:DHT – Get Free Report) last posted its earnings results on Wednesday, October 29th. The shipping company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. DHT had a net margin of 41.17% and a return on equity of 17.05%. The business had revenue of $107.35 million for the quarter, compared to the consensus estimate of $78.83 million. During the same quarter last year, the firm posted $0.22 EPS. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. Analysts expect that DHT will post 0.94 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
DHT has been the topic of several recent analyst reports. Evercore ISI lifted their target price on DHT from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DHT in a research note on Wednesday, January 21st. Jefferies Financial Group reiterated a “buy” rating and issued a $16.00 target price on shares of DHT in a report on Thursday, October 30th. BTIG Research restated a “buy” rating and set a $16.00 price target on shares of DHT in a report on Thursday, October 30th. Finally, Wall Street Zen lowered shares of DHT from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.67.
Read Our Latest Analysis on DHT
About DHT
DHT Holdings, Inc (NYSE: DHT) is a Bermuda-based independent crude oil tanker company that provides seaborne transportation of crude oil on a worldwide basis. The company’s core business involves the ownership and operation of a modern fleet of Very Large Crude Carriers (VLCCs) and Suezmax tankers, which are chartered to oil producers, trading houses and national oil companies. Through spot charters, time-charters and tanker pooling arrangements, DHT connects crude oil exporters with refining hubs in Asia, Europe, North America and other global markets.
Founded in 2005 and listed on the New York Stock Exchange later that year, DHT has grown its presence in the maritime sector by focusing on operational efficiency and disciplined capital management.