Castor Maritime Inc. (NASDAQ:CTRM) Sees Significant Increase in Short Interest

Castor Maritime Inc. (NASDAQ:CTRM) saw a significant increase in short interest in October. As of October 15th, there was short interest totaling 6,556 shares, an increase of 80.5% from the September 30th total of 3,632 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 48,228 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Castor Maritime from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Hedge Funds Weigh In On Castor Maritime

An institutional investor recently bought a new stake in Castor Maritime stock. NewEdge Advisors LLC bought a new stake in shares of Castor Maritime Inc. (NASDAQ:CTRM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 21,912 shares of the company’s stock, valued at approximately $46,000. NewEdge Advisors LLC owned about 0.23% of Castor Maritime at the end of the most recent reporting period. Institutional investors and hedge funds own 1.08% of the company’s stock.

Castor Maritime Price Performance

CTRM opened at $1.44 on Tuesday. 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 market capitalization of $13.91 million, a price-to-earnings ratio of 0.89 and a beta of 1.30. The firm’s fifty day moving average price is $2.02 and its two-hundred day moving average price is $2.06. Castor Maritime has a 1 year low of $1.36 and a 1 year high of $2.66.

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

Castor Maritime Company Profile

Castor Maritime Inc is a shipping company that owns and operates vessels used to transport commodities and other cargo by sea. Its activities have primarily focused on the dry bulk sector, serving international trade in goods such as iron ore, coal, grain and other bulk materials.

The company has historically expanded and adjusted its fleet through vessel acquisitions, sales and chartering arrangements. Castor has also participated in the transportation of crude oil, refined petroleum products and containerized cargo through tanker and containership assets.