Castor Maritime Inc. (NASDAQ:CTRM) Sees Large Drop in Short Interest

Castor Maritime Inc. (NASDAQ:CTRM) saw a large drop in short interest in August. As of August 31st, there was short interest totaling 15,458 shares, a drop of 45.7% from the August 15th total of 28,469 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 53,280 shares, the short-interest ratio is currently 0.3 days.

Institutional Investors Weigh In On Castor Maritime

A hedge fund recently bought a new position in Castor Maritime stock. NewEdge Advisors LLC acquired a new stake in Castor Maritime Inc. (NASDAQ:CTRM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,912 shares of the company’s stock, valued at approximately $46,000. NewEdge Advisors LLC owned about 0.23% of Castor Maritime as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 1.08% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Castor Maritime in a research report on Friday, September 4th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Castor Maritime Stock Performance

CTRM traded down $0.18 on Thursday, reaching $2.19. The stock had a trading volume of 37,000 shares, compared to its average volume of 55,624. The business’s 50-day moving average price is $2.19 and its two-hundred day moving average price is $2.08. The company has a current ratio of 4.68, a quick ratio of 6.88 and a debt-to-equity ratio of 0.09. Castor Maritime has a 12-month low of $1.66 and a 12-month high of $2.66. The company has a market cap of $21.20 million, a P/E ratio of 1.37 and a beta of 1.22.

Castor Maritime (NASDAQ:CTRM) last posted its quarterly earnings data on Monday, September 14th. The company reported $0.31 earnings per share for the quarter. The company had revenue of $25.57 million during the quarter. Castor Maritime had a net margin of 109.09% and a return on equity of 4.69%.

About Castor Maritime

Castor Maritime Inc is a global shipping company that specializes in the acquisition and operation of dry bulk carriers. The company’s fleet, comprising primarily Supramax, Ultramax and Handysize vessels, is deployed on short-, medium- and long-term time and voyage charters. Castor Maritime focuses on the seaborne transportation of dry bulk commodities such as coal, grain, iron ore, fertilizers and other industrial raw materials.

Headquartered in Athens, Greece, with a commercial office in New York, Castor Maritime serves customers across Asia, Europe and the Americas.