Castor Maritime Inc. (NASDAQ:CTRM) Short Interest Down 45.7% in August

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Castor Maritime

A hedge fund recently bought a new stake in Castor Maritime stock. NewEdge Advisors LLC bought a new position in shares of Castor Maritime Inc. (NASDAQ:CTRM) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 21,912 shares of the company’s stock, valued at approximately $46,000. NewEdge Advisors LLC owned 0.23% of Castor Maritime at the end of the most recent quarter. Institutional investors own 1.08% of the company’s stock.

Castor Maritime Stock Up 0.7%

Shares of Castor Maritime stock traded up $0.01 on Wednesday, reaching $2.29. 71,834 shares of the company were exchanged, compared to its average volume of 55,742. Castor Maritime has a one year low of $1.66 and a one year high of $2.66. The company has a market capitalization of $22.17 million, a price-to-earnings ratio of 1.43 and a beta of 1.22. The company has a current ratio of 6.88, a quick ratio of 6.88 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $2.19 and a 200 day moving average of $2.08.

Castor Maritime (NASDAQ:CTRM) last released its earnings results on Monday, September 14th. The company reported $0.31 earnings per share for the quarter. Castor Maritime had a net margin of 109.09% and a return on equity of 4.85%. The business had revenue of $25.57 million during 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.