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

Castor Maritime Inc. (NASDAQ:CTRM) was the target of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 8,770 shares, a drop of 44.3% from the May 14th total of 15,753 shares. Based on an average daily trading volume, of 70,019 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Castor Maritime

Several large investors have recently made changes to their positions in CTRM. Renaissance Technologies LLC lifted its holdings 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 valued at $137,000 after purchasing an additional 33,300 shares during the last quarter. Jane Street Group LLC purchased a new position in Castor Maritime in the 4th quarter worth approximately $37,000. Virtu Financial LLC purchased a new position in Castor Maritime in the 4th quarter worth approximately $25,000. Finally, Goldman Sachs Group Inc. raised its holdings in Castor Maritime by 20.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,600 shares of the company’s stock worth $61,000 after acquiring an additional 4,586 shares during the last quarter. 1.08% of the stock is currently owned by hedge funds and other institutional investors.

Castor Maritime Stock Up 3.7%

Shares of CTRM stock traded up $0.08 during trading hours on Monday, hitting $2.26. 50,190 shares of the company’s stock traded hands, compared to its average volume of 61,682. The stock’s fifty day simple moving average is $1.96 and its two-hundred day simple moving average is $2.08. Castor Maritime has a 12-month low of $1.66 and a 12-month high of $2.65. The stock has a market cap of $21.83 million, a price-to-earnings ratio of 1.61 and a beta of 1.21. The company has a quick ratio of 6.88, a current ratio of 6.88 and a debt-to-equity ratio of 0.13.

Castor Maritime (NASDAQ:CTRM) last released its earnings results on Wednesday, April 15th. The company reported $0.24 earnings per share (EPS) for the quarter. Castor Maritime had a net margin of 103.17% and a return on equity of 3.34%. The firm had revenue of $13.33 million during the quarter.

Castor Maritime Company Profile

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.