Short Interest in Castor Maritime Inc. (NASDAQ:CTRM) Decreases By 45.7%

Castor Maritime Inc. (NASDAQ:CTRM) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 15,458 shares, a decline of 45.7% from the August 15th total of 28,469 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 53,280 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Castor Maritime in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Castor Maritime presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Castor Maritime stock. Renaissance Technologies LLC raised its stake in shares of Castor Maritime Inc. (NASDAQ:CTRM) by 82.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,869 shares of the company’s stock after purchasing an additional 33,300 shares during the quarter. Renaissance Technologies LLC owned 0.76% of Castor Maritime worth $137,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 1.08% of the company’s stock.

Castor Maritime Stock Performance

Shares of NASDAQ CTRM traded down $0.21 during trading hours on Tuesday, reaching $2.28. The stock had a trading volume of 60,809 shares, compared to its average volume of 55,656. The company has a market cap of $22.03 million, a price-to-earnings ratio of 1.63 and a beta of 1.22. Castor Maritime has a twelve month low of $1.66 and a twelve month high of $2.66. The business’s fifty day moving average is $2.19 and its two-hundred day moving average is $2.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 6.88 and a quick ratio of 6.88.

Castor Maritime (NASDAQ:CTRM) last posted its quarterly earnings results on Monday, September 14th. The company reported $0.31 earnings per share 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 $25.57 million for the quarter.

About Castor Maritime

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.