Toro Corp. (NASDAQ:TORO) Sees Large Drop in Short Interest

Toro Corp. (NASDAQ:TORO) was the recipient of a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 131,650 shares, a decrease of 47.8% from the June 30th total of 252,362 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 39,564 shares, the days-to-cover ratio is currently 3.3 days.

Toro Price Performance

NASDAQ:TORO opened at $5.03 on Thursday. The firm has a 50 day simple moving average of $5.05 and a 200-day simple moving average of $4.61. The firm has a market cap of $107.89 million, a PE ratio of 125.66 and a beta of 2.55. Toro has a 1-year low of $2.64 and a 1-year high of $8.50.

Toro (NASDAQ:TORO) last announced its quarterly earnings data on Thursday, May 28th. The company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $5.96 million for the quarter. Toro had a net margin of 22.67% and a return on equity of 2.49%.

Institutional Investors Weigh In On Toro

Several hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC grew its position in shares of Toro by 19.2% in the fourth quarter. Renaissance Technologies LLC now owns 186,700 shares of the company’s stock valued at $986,000 after purchasing an additional 30,100 shares during the period. Citadel Advisors LLC purchased a new position in Toro during the third quarter worth about $79,000. Group One Trading LLC purchased a new position in Toro during the third quarter worth about $70,000. Finally, Founders Capital Management boosted its stake in Toro by 28.6% in the 4th quarter. Founders Capital Management now owns 9,000 shares of the company’s stock worth $48,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 1.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TORO. Wall Street Zen raised Toro to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings raised Toro from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Toro currently has an average rating of “Hold”.

Toro Company Profile

Toro Corp., a shipping company, acquires, owns, charters, and operates oceangoing tanker vessels and provides seaborne transportation services for crude oil LPG, and refined petroleum products worldwide. The company operates in three segments: Aframax/LR2 Tanker, Handysize Tanker, and LPG Carrier. As of December 31, 2023, it operated a fleet of one Handysize tanker vessel; one Aframax/LR2 vessel; and four LPG carrier vessels with an aggregate cargo carrying capacity of 0.1 million deadweight ton.