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

Toro Corp. (NASDAQ:TORO) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 63,000 shares, a growth of 53.3% from the October 15th total of 41,100 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average daily volume of 34,700 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Toro stock. Renaissance Technologies LLC boosted its stake in Toro Corp. (NASDAQ:TORO) by 13.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,659 shares of the company’s stock after buying an additional 9,459 shares during the period. Renaissance Technologies LLC owned 0.41% of Toro worth $311,000 at the end of the most recent quarter. 1.74% of the stock is currently owned by institutional investors and hedge funds.

Toro Trading Up 0.8 %

TORO traded up $0.02 during trading hours on Thursday, hitting $2.62. The company’s stock had a trading volume of 12,765 shares, compared to its average volume of 37,840. The company has a 50-day simple moving average of $3.29 and a 200 day simple moving average of $3.72. The firm has a market capitalization of $49.73 million, a PE ratio of 2.45 and a beta of 2.03. Toro has a fifty-two week low of $2.60 and a fifty-two week high of $6.45.

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.