Castor Maritime Inc. (NASDAQ:CTRM) Sees Large Growth in Short Interest

Castor Maritime Inc. (NASDAQ:CTRM) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 15,480 shares, a growth of 76.5% from the May 31st total of 8,770 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 89,862 shares, the short-interest ratio is presently 0.2 days.

Hedge Funds Weigh In On Castor Maritime

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

Castor Maritime Stock Performance

CTRM opened at $2.26 on Friday. The company has a market capitalization of $21.84 million, a price-to-earnings ratio of 1.61 and a beta of 1.19. 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 has a 1-year low of $1.66 and a 1-year high of $2.65. The business has a 50 day moving average price of $2.06 and a two-hundred day moving average price of $2.08.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Castor Maritime from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, June 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average 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.