Toro (NASDAQ:TORO) Stock Price Down 0.6% – Time to Sell?

Toro Corp. (NASDAQ:TORO) shares traded down 0.6% during mid-day trading on Monday . The stock traded as low as $4.85 and last traded at $4.91. Approximately 41,826 shares changed hands during trading, an increase of 48% from the average session volume of 28,192 shares. The stock had previously closed at $4.94.

Wall Street Analyst Weigh In

TORO has been the topic of a number of research reports. Weiss Ratings downgraded shares of Toro from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. Wall Street Zen raised Toro to a “hold” rating in a research report on Saturday, June 20th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Toro has an average rating of “Hold”.

Toro Price Performance

The business’s 50-day moving average price is $5.13 and its 200 day moving average price is $4.65. The firm has a market capitalization of $108.21 million, a price-to-earnings ratio of 126.03 and a beta of 2.55.

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

Toro Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, June 5th. Shareholders of record on Monday, May 4th were given a $0.90 dividend. The ex-dividend date of this dividend was Monday, May 4th.

Insider Activity

In other Toro news, CEO Petros Panagiotis Panagiotidis purchased 67,407 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were acquired at an average price of $6.79 per share, for a total transaction of $457,693.53. Following the completion of the purchase, the chief executive officer owned 20,822,206 shares in the company, valued at $141,382,778.74. The trade was a 0.32% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought 2,315,971 shares of company stock worth $14,245,930 over the last 90 days.

Institutional Investors Weigh In On Toro

Hedge funds have recently bought and sold shares of the business. Founders Capital Management raised 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 valued at $48,000 after purchasing an additional 2,000 shares in the last quarter. Group One Trading LLC purchased a new position in shares of Toro during the 3rd quarter valued at approximately $70,000. Citadel Advisors LLC acquired a new stake in shares of Toro during the third quarter worth approximately $79,000. Finally, Renaissance Technologies LLC grew its position in shares of Toro by 19.2% during the fourth quarter. Renaissance Technologies LLC now owns 186,700 shares of the company’s stock worth $986,000 after buying an additional 30,100 shares in the last quarter. Institutional investors and hedge funds own 1.74% of the company’s stock.

About Toro

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.