Toro Corp. (NASDAQ:TORO) Sees Significant Decrease in Short Interest

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

Toro Price Performance

Shares of Toro stock traded up $0.13 during trading on Thursday, hitting $6.33. 4,229 shares of the company’s stock traded hands, compared to its average volume of 200,207. Toro has a 1 year low of $2.95 and a 1 year high of $8.50. The business has a 50-day simple moving average of $5.67 and a 200-day simple moving average of $5.07. The stock has a market capitalization of $135.91 million, a P/E ratio of 158.29 and a beta of 2.55.

Hedge Funds Weigh In On Toro

Several hedge funds and other institutional investors have recently modified their holdings of TORO. Kingsview Wealth Management LLC purchased a new position in shares of Toro in the 2nd quarter worth $304,000. Empowered Funds LLC purchased a new position in Toro in the second quarter worth about $1,525,000. United Capital Financial Advisors LLC bought a new stake in shares of Toro during the 2nd quarter valued at about $205,000. Dearborn Partners LLC bought a new stake in shares of Toro during the 2nd quarter valued at about $576,000. Finally, Equitable Holdings Inc. bought a new stake in Toro during the second quarter valued at approximately $213,000. 1.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on TORO shares. Wall Street Zen raised shares of Toro to a “hold” rating in a research report on Saturday, June 20th. Weiss Ratings downgraded shares of Toro from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average 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.