Castor Maritime (NASDAQ:CTRM) Stock Price Up 2.5% – Should You Buy?

Castor Maritime Inc. (NASDAQ:CTRM) shares traded up 2.5% during mid-day trading on Monday . The stock traded as high as $2.10 and last traded at $2.09. 30,731 shares were traded during trading, a decline of 4% from the average session volume of 32,049 shares. The stock had previously closed at $2.04.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Castor Maritime from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Castor Maritime Price Performance

The company’s fifty day moving average is $2.09 and its two-hundred day moving average is $2.06. The firm has a market capitalization of $20.19 million, a price-to-earnings ratio of 1.49 and a beta of 1.21. The company has a quick ratio of 6.88, a current ratio of 6.88 and a debt-to-equity ratio of 0.13.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CTRM. Renaissance Technologies LLC boosted its holdings in Castor Maritime by 82.1% during the first quarter. Renaissance Technologies LLC now owns 73,869 shares of the company’s stock worth $137,000 after buying an additional 33,300 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Castor Maritime by 20.8% in the first quarter. Goldman Sachs Group Inc. now owns 26,600 shares of the company’s stock valued at $61,000 after purchasing an additional 4,586 shares in the last quarter. Jane Street Group LLC acquired a new stake in Castor Maritime in the fourth quarter worth $37,000. Finally, Virtu Financial LLC acquired a new stake in Castor Maritime in the fourth quarter worth $25,000. Institutional investors and hedge funds 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.