Castor Maritime Inc. (NASDAQ:CTRM) Sees Significant Decrease in Short Interest

Castor Maritime Inc. (NASDAQ:CTRM) was the target of a large drop in short interest in the month of April. As of April 15th, there was short interest totaling 12,807 shares, a drop of 21.7% from the March 31st total of 16,363 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 39,335 shares, the short-interest ratio is currently 0.3 days.

Castor Maritime Stock Up 0.5%

CTRM stock traded up $0.01 on Friday, hitting $2.07. 16,938 shares of the company’s stock were exchanged, compared to its average volume of 47,115. The firm has a 50 day moving average price of $1.98 and a two-hundred day moving average price of $2.07. Castor Maritime has a 12-month low of $1.66 and a 12-month high of $2.65. The stock has a market cap of $20.00 million, a P/E ratio of -1.29 and a beta of 1.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 6.41 and a current ratio of 6.44.

Castor Maritime (NASDAQ:CTRM) last released its quarterly earnings results on Wednesday, April 15th. The company reported $0.24 EPS for the quarter. Castor Maritime had a return on equity of 2.68% and a net margin of 23.55%.The company had revenue of $13.33 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Castor Maritime in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Castor Maritime has an average rating of “Sell”.

Hedge Funds Weigh In On Castor Maritime

A number of institutional investors have recently modified their holdings of CTRM. Goldman Sachs Group Inc. boosted its stake in shares of Castor Maritime by 20.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,600 shares of the company’s stock worth $61,000 after acquiring an additional 4,586 shares in the last quarter. Jane Street Group LLC purchased a new position in Castor Maritime during the fourth quarter worth approximately $37,000. Finally, Virtu Financial LLC purchased a new position in Castor Maritime during the fourth quarter worth approximately $25,000. Hedge funds and other institutional investors own 1.08% of the company’s stock.

Castor Maritime Company Profile

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.