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

Castor Maritime Inc. (NASDAQ:CTRM) shares are set to reverse split on the morning of 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 Price Performance

Shares of CTRM traded down $0.04 during mid-day trading on Monday, hitting $0.36. 1,952,137 shares of the company were exchanged, compared to its average volume of 730,947. The stock has a market cap of $34.78 million, a price-to-earnings ratio of 1.44 and a beta of 0.86. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.44 and a current ratio of 8.47. Castor Maritime has a 1-year low of $0.29 and a 1-year high of $0.93. The company has a 50 day moving average of $0.45 and a 200-day moving average of $0.42.

Castor Maritime (NASDAQ:CTRM) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.10 earnings per share for the quarter. The firm 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 modified their holdings of CTRM. Geode Capital Management LLC raised its stake in Castor Maritime by 65.7% during the 2nd quarter. Geode Capital Management LLC now owns 82,355 shares of the company’s stock worth $37,000 after acquiring an additional 32,652 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Castor Maritime in the fourth quarter valued at about $47,000. Goldman Sachs Group Inc. purchased a new stake in shares of Castor Maritime in the first quarter valued at about $50,000. Privium Fund Management UK Ltd purchased a new stake in shares of Castor Maritime in the fourth quarter valued at about $66,000. Finally, Renaissance Technologies LLC boosted its holdings 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 valued at $114,000 after acquiring an additional 68,100 shares in the last quarter. 1.08% of the stock is currently owned by institutional investors and hedge funds.

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.