Castor Maritime Inc. (NASDAQ:CTRM) Short Interest Down 44.3% in May

Castor Maritime Inc. (NASDAQ:CTRM) was the recipient of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 8,770 shares, a decrease of 44.3% from the May 14th total of 15,753 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 70,019 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On Castor Maritime

A number of hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in shares of Castor Maritime in the 4th quarter worth about $25,000. Jane Street Group LLC bought a new position in shares of Castor Maritime in the 4th quarter valued at about $37,000. Goldman Sachs Group Inc. boosted its stake in shares of Castor Maritime by 20.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,600 shares of the company’s stock valued at $61,000 after purchasing an additional 4,586 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Castor Maritime by 82.1% in the 1st quarter. Renaissance Technologies LLC now owns 73,869 shares of the company’s stock valued at $137,000 after purchasing an additional 33,300 shares during the last quarter. Institutional investors and hedge funds own 1.08% of the company’s stock.

Castor Maritime Price Performance

Shares of CTRM stock traded up $0.05 during mid-day trading on Friday, reaching $2.18. The company’s stock had a trading volume of 48,306 shares, compared to its average volume of 77,709. Castor Maritime has a 1-year low of $1.66 and a 1-year high of $2.65. The company has a market cap of $21.06 million, a P/E ratio of 1.56 and a beta of 1.21. The company has a debt-to-equity ratio of 0.13, a quick ratio of 6.88 and a current ratio of 6.88. The firm’s 50-day moving average is $1.96 and its two-hundred day moving average is $2.08.

Castor Maritime (NASDAQ:CTRM) last announced its quarterly earnings data on Wednesday, April 15th. The company reported $0.24 earnings per share (EPS) for the quarter. Castor Maritime had a net margin of 103.17% and a return on equity of 3.34%. The company had revenue of $13.33 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Castor Maritime from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, June 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Castor Maritime presently has a consensus rating of “Sell”.

Castor Maritime Company Profile

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.