Castor Maritime Inc. (NASDAQ:CTRM) Short Interest Down 45.7% in August

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

Institutional Trading of Castor Maritime

A hedge fund recently raised its stake in Castor Maritime stock. Renaissance Technologies LLC boosted its position in shares of Castor Maritime Inc. (NASDAQ:CTRM) by 82.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 73,869 shares of the company’s stock after purchasing an additional 33,300 shares during the quarter. Renaissance Technologies LLC owned 0.76% of Castor Maritime worth $137,000 as of its most recent SEC filing. 1.08% of the stock is currently owned by institutional investors.

Castor Maritime Price Performance

NASDAQ CTRM traded down $0.21 during trading hours on Tuesday, reaching $2.28. 60,809 shares of the company’s stock were exchanged, compared to its average volume of 55,656. The stock has a market cap of $22.03 million, a PE ratio of 1.63 and a beta of 1.22. Castor Maritime has a one year low of $1.66 and a one year high of $2.66. The firm has a fifty day moving average of $2.19 and a 200-day moving average of $2.08. The company has a current ratio of 6.88, a quick ratio of 6.88 and a debt-to-equity ratio of 0.13.

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 firm had revenue of $25.57 million during the quarter. Castor Maritime had a net margin of 103.17% and a return on equity of 3.34%.

Wall Street Analysts Forecast Growth

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

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.