Castor Maritime Stock to Reverse Split on Wednesday, March 27th (NASDAQ:CTRM)

Castor Maritime Inc. (NASDAQ:CTRM)’s stock is going to reverse split before the market opens on Wednesday, March 27th. The 1-10 reverse split was announced on Wednesday, March 27th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, March 27th.

Castor Maritime Price Performance

Shares of CTRM traded down $0.04 during mid-day trading on Monday, hitting $0.36. 1,952,137 shares of the stock were exchanged, compared to its average volume of 730,947. The firm has a 50-day moving average of $0.45 and a two-hundred day moving average of $0.42. Castor Maritime has a 52-week low of $0.29 and a 52-week high of $0.93. The company has a market cap of $34.78 million, a PE ratio of 1.44 and a beta of 0.86. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.44 and a current ratio of 8.47.

Castor Maritime (NASDAQ:CTRM) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.10 earnings per share for the quarter. Castor Maritime had a return on equity of 6.39% and a net margin of 39.63%. The company had revenue of $26.36 million for the quarter.

Institutional Trading of Castor Maritime

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of Castor Maritime by 65.7% during the second quarter. Geode Capital Management LLC now owns 82,355 shares of the company’s stock worth $37,000 after acquiring an additional 32,652 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Castor Maritime in the fourth quarter valued at approximately $47,000. Goldman Sachs Group Inc. purchased a new stake in shares of Castor Maritime in the first quarter valued at approximately $50,000. Privium Fund Management UK Ltd purchased a new stake in shares of Castor Maritime during the fourth quarter worth approximately $66,000. Finally, Renaissance Technologies LLC increased its position in shares of Castor Maritime by 407.8% during the second quarter. Renaissance Technologies LLC now owns 84,800 shares of the company’s stock worth $114,000 after purchasing an additional 68,100 shares in the last quarter. Hedge funds and other institutional investors own 1.08% of the company’s stock.

About Castor Maritime

Castor Maritime Inc provides shipping services worldwide. The company operates through Dry Bulk Vessels and Containerships segments. It offers seaborne transportation services for dry bulk cargo; and commodities, such as iron ore, coal, soybeans, etc. As of December 31, 2023, the company owned and operated a fleet of 17 vessels primarily consisting of one Capesize, five Kamsarmax, two Handysize tanker vessels, and nine Panamax dry bulk vessels, as well as two 2,700 TEU containership vessels.