Toro (NASDAQ:TORO) Shares Down 0.2% – Should You Sell?

Toro Corp. (NASDAQ:TORO)’s stock price dropped 0.2% during mid-day trading on Tuesday . The stock traded as low as $5.00 and last traded at $5.07. Approximately 27,484 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 100,283 shares. The stock had previously closed at $5.08.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Toro from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Toro Trading Up 0.4%

The firm has a market cap of $109.28 million, a P/E ratio of 127.28 and a beta of 2.54. The firm has a 50-day simple moving average of $4.94 and a 200-day simple moving average of $4.56.

Toro (NASDAQ:TORO) last announced its earnings results on Thursday, May 28th. The company reported ($0.02) earnings per share (EPS) for the quarter. The company had revenue of $5.96 million for the quarter. Toro had a net margin of 22.67% and a return on equity of 2.49%.

Toro Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, June 5th. Shareholders of record on Monday, May 4th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, May 4th.

Insider Transactions at Toro

In related news, CEO Petros Panagiotis Panagiotidis bought 67,407 shares of the company’s stock in a transaction on Friday, April 24th. The shares were acquired at an average price of $6.79 per share, with a total value of $457,693.53. Following the transaction, the chief executive officer owned 20,822,206 shares of the company’s stock, valued at $141,382,778.74. The trade was a 0.32% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders acquired 2,315,971 shares of company stock worth $14,245,930.

Institutional Trading of Toro

A number of institutional investors have recently made changes to their positions in TORO. Renaissance Technologies LLC boosted its position in shares of Toro by 19.2% in the 4th quarter. Renaissance Technologies LLC now owns 186,700 shares of the company’s stock worth $986,000 after purchasing an additional 30,100 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Toro in the 3rd quarter worth $79,000. Group One Trading LLC acquired a new stake in shares of Toro in the 3rd quarter worth $70,000. Finally, Founders Capital Management boosted its position in shares of Toro by 28.6% in the 4th quarter. Founders Capital Management now owns 9,000 shares of the company’s stock worth $48,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 1.74% of the company’s stock.

Toro Company Profile

Toro Corp., a shipping company, acquires, owns, charters, and operates oceangoing tanker vessels and provides seaborne transportation services for crude oil LPG, and refined petroleum products worldwide. The company operates in three segments: Aframax/LR2 Tanker, Handysize Tanker, and LPG Carrier. As of December 31, 2023, it operated a fleet of one Handysize tanker vessel; one Aframax/LR2 vessel; and four LPG carrier vessels with an aggregate cargo carrying capacity of 0.1 million deadweight ton.