Toro Corp. (NASDAQ:TORO) Short Interest Update

Toro Corp. (NASDAQ:TORO) saw a large decline in short interest in August. As of August 31st, there was short interest totaling 54,017 shares, a decline of 42.1% from the August 15th total of 93,246 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average trading volume of 25,579 shares, the days-to-cover ratio is presently 2.1 days.

Institutional Trading of Toro

Several large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Toro in the 2nd quarter valued at $874,436,000. Bank of New York Mellon Corp acquired a new stake in Toro during the 2nd quarter worth $94,442,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Toro during the second quarter worth $37,971,000. Caisse de depot et placement du Quebec purchased a new stake in shares of Toro during the second quarter worth $37,387,000. Finally, Bank of America Corp DE acquired a new stake in shares of Toro in the second quarter valued at about $36,096,000. 1.74% of the stock is currently owned by hedge funds and other institutional investors.

Toro Stock Down 3.4%

Shares of Toro stock traded down $0.22 during mid-day trading on Wednesday, reaching $6.20. 34,338 shares of the stock traded hands, compared to its average volume of 201,319. The business has a 50-day moving average of $5.65 and a 200 day moving average of $5.05. Toro has a fifty-two week low of $2.95 and a fifty-two week high of $8.50. The stock has a market capitalization of $133.11 million, a PE ratio of 155.04 and a beta of 2.55.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TORO. Weiss Ratings downgraded shares of Toro from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 30th. Wall Street Zen raised shares of Toro to a “hold” rating in a research note on Saturday, June 20th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Toro has a consensus rating of “Hold”.

Toro Company Profile

Toro Corp. is a maritime transportation company focused on the ownership and operation of oceangoing vessels. Its activities have centered primarily on the transportation of crude oil and refined petroleum products, as well as dry bulk commodities, serving customers through the international shipping markets.

The company has operated vessels under a combination of time-charter and voyage-charter arrangements. Its fleet has included tanker and dry bulk vessels, with operations spanning major international trade routes and ports.