Toro Corp. (NASDAQ:TORO) Sees Large Decrease in Short Interest

Toro Corp. (NASDAQ:TORO) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 54,017 shares, a drop of 42.1% from the August 15th total of 93,246 shares. Based on an average trading volume of 25,579 shares, the days-to-cover ratio is currently 2.1 days. Approximately 0.3% of the shares of the company are short sold.

Toro Price Performance

Shares of NASDAQ TORO opened at $6.20 on Friday. Toro has a 52 week low of $2.95 and a 52 week high of $8.50. The business has a 50-day simple moving average of $5.70 and a two-hundred day simple moving average of $5.09. The company has a market cap of $133.11 million, a P/E ratio of 155.04 and a beta of 2.55.

Analyst Ratings Changes

TORO has been the topic of several recent research reports. Weiss Ratings downgraded shares of Toro from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 30th. Wall Street Zen upgraded shares of Toro to a “hold” rating in a research note on Saturday, June 20th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Hedge Funds Weigh In On Toro

A number of large investors have recently modified their holdings of TORO. Kingsview Wealth Management LLC bought a new stake in Toro during the 2nd quarter worth approximately $304,000. Empowered Funds LLC bought a new position in Toro in the 2nd quarter valued at $1,525,000. United Capital Financial Advisors LLC purchased a new position in shares of Toro during the 2nd quarter valued at $205,000. Dearborn Partners LLC purchased a new position in shares of Toro during the 2nd quarter valued at $576,000. Finally, Equitable Holdings Inc. bought a new position in shares of Toro in the second quarter worth $213,000. 1.74% of the stock is currently owned by institutional investors.

About Toro

Toro Corp. is a maritime transportation company focused on the ownership and operation of oceangoing vessels. Its activities have centered primarily on the transportation of crude oil and refined petroleum products, as well as dry bulk commodities, serving customers through the international shipping markets.

The company has operated vessels under a combination of time-charter and voyage-charter arrangements. Its fleet has included tanker and dry bulk vessels, with operations spanning major international trade routes and ports.