Short Interest in Toro Corp. (NASDAQ:TORO) Declines By 47.8%

Toro Corp. (NASDAQ:TORO) was the target of a large decrease in short interest in July. As of July 15th, there was short interest totaling 131,650 shares, a decrease of 47.8% from the June 30th total of 252,362 shares. Based on an average daily trading volume, of 39,564 shares, the short-interest ratio is currently 3.3 days. Approximately 0.6% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Weiss Ratings upgraded shares of Toro from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. Wall Street Zen upgraded Toro to a “hold” rating in a report on Saturday, June 20th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Toro has a consensus rating of “Hold”.

Toro Stock Up 0.1%

Shares of Toro stock traded up $0.00 on Wednesday, hitting $5.09. The stock had a trading volume of 20,146 shares, compared to its average volume of 242,208. The stock has a market cap of $109.35 million, a price-to-earnings ratio of 127.36 and a beta of 2.55. The business’s 50 day moving average is $5.05 and its two-hundred day moving average is $4.62. Toro has a twelve month low of $2.64 and a twelve month high of $8.50.

Toro (NASDAQ:TORO) last posted its earnings results on Thursday, May 28th. The company reported ($0.02) earnings per share for the quarter. The firm had revenue of $5.96 million for the quarter. Toro had a return on equity of 2.49% and a net margin of 22.67%.

Institutional Trading of Toro

Institutional investors and hedge funds have recently made changes to their positions in the company. Founders Capital Management boosted its holdings in shares of Toro by 28.6% in the 4th quarter. Founders Capital Management now owns 9,000 shares of the company’s stock valued at $48,000 after purchasing an additional 2,000 shares in the last quarter. Group One Trading LLC acquired a new position in shares of Toro in the third quarter valued at approximately $70,000. Citadel Advisors LLC bought a new position in shares of Toro during the third quarter valued at $79,000. Finally, Renaissance Technologies LLC raised its position in Toro by 19.2% during the 4th quarter. Renaissance Technologies LLC now owns 186,700 shares of the company’s stock worth $986,000 after purchasing an additional 30,100 shares during the last quarter. Institutional investors own 1.74% of the company’s stock.

Toro Company Profile

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.