Castor Maritime (NASDAQ:CTRM) Stock Price Up 1% – Time to Buy?

Castor Maritime Inc. (NASDAQ:CTRM) shares shot up 1% on Wednesday . The stock traded as high as $1.9657 and last traded at $1.95. 9,391 shares traded hands during trading, a decline of 78% from the average session volume of 42,890 shares. The stock had previously closed at $1.93.

Castor Maritime Stock Down 3.4%

The firm has a market cap of $19.13 million, a price-to-earnings ratio of -1.23 and a beta of 1.25. The firm’s 50 day moving average price is $1.92 and its two-hundred day moving average price is $2.06. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.44 and a quick ratio of 6.41.

Castor Maritime (NASDAQ:CTRM) last announced its earnings results on Wednesday, April 15th. The company reported $0.24 earnings per share for the quarter. Castor Maritime had a net margin of 23.55% and a return on equity of 2.68%. The business had revenue of $13.33 million during the quarter.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its holdings in Castor Maritime by 20.8% during the first quarter. Goldman Sachs Group Inc. now owns 26,600 shares of the company’s stock worth $61,000 after purchasing an additional 4,586 shares in the last quarter. Jane Street Group LLC purchased a new position in Castor Maritime during the fourth quarter worth about $37,000. Virtu Financial LLC purchased a new position in Castor Maritime during the fourth quarter worth about $25,000. Finally, Renaissance Technologies LLC raised its holdings in Castor Maritime by 82.1% during the first quarter. Renaissance Technologies LLC now owns 73,869 shares of the company’s stock worth $137,000 after purchasing an additional 33,300 shares in the last quarter. 1.08% of the stock is owned by hedge funds and other institutional investors.

About Castor Maritime

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.