Castor Maritime (NASDAQ:CTRM) Stock Price Down 11.5% – What’s Next?

Castor Maritime Inc. (NASDAQ:CTRM) shares fell 11.5% on Friday. The company traded as low as $1.57 and last traded at $1.70. Approximately 188,819 shares were traded during mid-day trading, an increase of 271% from the average daily volume of 50,963 shares. The stock had previously closed at $1.92.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Castor Maritime from a “sell (d)” rating to a “hold (c-)” rating in a research note on Friday, September 25th. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Castor Maritime Stock Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 4.68 and a quick ratio of 4.68. The company has a 50 day simple moving average of $2.22 and a 200-day simple moving average of $2.07. The stock has a market capitalization of $16.42 million, a P/E ratio of 1.06 and a beta of 1.30.

Castor Maritime (NASDAQ:CTRM) last posted its quarterly earnings results on Monday, September 14th. The company reported $0.31 earnings per share for the quarter. Castor Maritime had a return on equity of 4.69% and a net margin of 109.09%. The company had revenue of $25.57 million during the quarter.

Hedge Funds Weigh In On Castor Maritime

An institutional investor recently raised its position in Castor Maritime stock. Renaissance Technologies LLC grew its holdings in Castor Maritime Inc. (NASDAQ:CTRM) by 82.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,869 shares of the company’s stock after purchasing an additional 33,300 shares during the period. Renaissance Technologies LLC owned approximately 0.76% of Castor Maritime worth $137,000 at the end of the most recent quarter. 1.08% of the stock is owned by hedge funds and other institutional investors.

Castor Maritime Company Profile

Castor Maritime Inc (NASDAQ: CTRM) is a maritime transportation company that owns and operates vessels serving international shipping markets. Its business is centered on the transportation of dry bulk commodities, crude oil and refined petroleum products, and containerized cargo.

The company’s fleet has included dry bulk carriers, tankers and containerships. These vessels transport goods such as iron ore, coal, grain, other bulk commodities, petroleum products and manufactured cargo on international trade routes.