Castor Maritime (NASDAQ:CTRM) Shares Scheduled to Reverse Split on Wednesday, March 27th

Castor Maritime Inc. (NASDAQ:CTRM)’s stock is set to reverse split before the market opens on Wednesday, March 27th. The 1-10 reverse split was announced on Wednesday, March 27th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, March 27th.

Castor Maritime Trading Down 10.6 %

Shares of CTRM stock traded down $0.04 during trading hours on Monday, hitting $0.36. 1,952,137 shares of the company were exchanged, compared to its average volume of 730,947. The company has a 50 day simple moving average of $0.45 and a two-hundred day simple moving average of $0.42. Castor Maritime has a fifty-two week low of $0.29 and a fifty-two week high of $0.93. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.44 and a current ratio of 8.47. The firm has a market cap of $34.78 million, a P/E ratio of 1.44 and a beta of 0.86.

Castor Maritime (NASDAQ:CTRM) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.10 earnings per share (EPS) for the quarter. The business had revenue of $26.36 million during the quarter. Castor Maritime had a net margin of 39.63% and a return on equity of 6.39%.

Institutional Investors Weigh In On Castor Maritime

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. purchased a new position in shares of Castor Maritime during the first quarter worth about $50,000. Geode Capital Management LLC raised its holdings in Castor Maritime by 65.7% in the second quarter. Geode Capital Management LLC now owns 82,355 shares of the company’s stock worth $37,000 after purchasing an additional 32,652 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Castor Maritime by 407.8% in the second quarter. Renaissance Technologies LLC now owns 84,800 shares of the company’s stock worth $114,000 after acquiring an additional 68,100 shares during the last quarter. Virtu Financial LLC grew its stake in shares of Castor Maritime by 150.9% in the fourth quarter. Virtu Financial LLC now owns 90,943 shares of the company’s stock worth $102,000 after acquiring an additional 54,703 shares during the last quarter. Finally, Privium Fund Management UK Ltd purchased a new stake in shares of Castor Maritime during the fourth quarter valued at $66,000. 1.08% of the stock is currently owned by institutional investors.

About Castor Maritime

Castor Maritime Inc provides shipping services worldwide. The company operates through Dry Bulk Vessels and Containerships segments. It offers seaborne transportation services for dry bulk cargo; and commodities, such as iron ore, coal, soybeans, etc. As of December 31, 2023, the company owned and operated a fleet of 17 vessels primarily consisting of one Capesize, five Kamsarmax, two Handysize tanker vessels, and nine Panamax dry bulk vessels, as well as two 2,700 TEU containership vessels.