Toro (NASDAQ:TORO) Trading 0.5% Higher – Still a Buy?

Toro Corp. (NASDAQ:TORO) shares were up 0.5% on Friday . The stock traded as high as $3.76 and last traded at $3.70. Approximately 43,364 shares traded hands during trading, a decline of 15% from the average daily volume of 51,053 shares. The stock had previously closed at $3.68.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Toro in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Toro Trading Up 0.5%

The company has a market cap of $79.44 million, a P/E ratio of 92.52 and a beta of 1.11. The company has a 50 day moving average price of $4.16 and a 200-day moving average price of $4.05.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in Toro by 19.2% in the 4th 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 last quarter. Founders Capital Management grew its stake in shares of Toro by 28.6% during the fourth 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. Citadel Advisors LLC acquired a new position in shares of Toro during the third quarter worth $79,000. Finally, Group One Trading LLC bought a new position in shares of Toro in the 3rd quarter valued at $70,000. Institutional investors own 1.74% of the company’s stock.

About Toro

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.