Castor Maritime (NASDAQ:CTRM) Stock Price Up 2.5% – Time to Buy?

Castor Maritime Inc. (NASDAQ:CTRM)’s share price rose 2.5% during mid-day trading on Monday . The company traded as high as $2.10 and last traded at $2.09. Approximately 30,731 shares were traded during trading, a decline of 4% from the average daily volume of 32,049 shares. The stock had previously closed at $2.04.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Castor Maritime from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Castor Maritime currently has a consensus rating of “Sell”.

Castor Maritime Trading Up 2.5%

The company’s 50-day moving average is $2.09 and its 200-day moving average is $2.06. The company has a debt-to-equity ratio of 0.13, a quick ratio of 6.88 and a current ratio of 6.88. The firm has a market cap of $20.19 million, a price-to-earnings ratio of 1.49 and a beta of 1.21.

Institutional Trading of Castor Maritime

Hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new position in Castor Maritime in the 4th quarter worth approximately $25,000. Jane Street Group LLC bought a new position in Castor Maritime in the 4th quarter valued at $37,000. Goldman Sachs Group Inc. increased its stake in shares of Castor Maritime by 20.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,600 shares of the company’s stock valued at $61,000 after buying an additional 4,586 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of 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 acquiring an additional 33,300 shares during the last quarter. Institutional investors and hedge funds own 1.08% of the company’s stock.

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.