Castor Maritime (NASDAQ:CTRM) Shares Down 11.5% – Time to Sell?

Castor Maritime Inc. (NASDAQ:CTRM) shares traded down 11.5% during mid-day trading on Friday. The company traded as low as $1.57 and last traded at $1.70. 188,819 shares were traded during trading, an increase of 271% from the average daily volume of 50,963 shares. The stock had previously closed at $1.92.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Castor Maritime from a “sell (d)” rating to a “hold (c-)” rating in a report on Friday, September 25th. One research analyst has rated the stock with a Hold rating. According to MarketBeat.com, the company presently has an average rating of “Hold”.

Castor Maritime Price Performance

The stock has a market cap of $16.42 million, a PE ratio of 1.06 and a beta of 1.30. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.68 and a current ratio of 4.68. The business has a 50 day moving average price of $2.22 and a two-hundred day moving average price of $2.07.

Castor Maritime (NASDAQ:CTRM) last issued its quarterly earnings results on Monday, September 14th. The company reported $0.31 EPS for the quarter. The company had revenue of $25.57 million during the quarter. Castor Maritime had a return on equity of 4.69% and a net margin of 109.09%.

Institutional Investors Weigh In On Castor Maritime

A hedge fund recently raised its stake in Castor Maritime stock. Renaissance Technologies LLC increased its stake in Castor Maritime Inc. (NASDAQ:CTRM) by 82.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 73,869 shares of the company’s stock after buying an additional 33,300 shares during the quarter. Renaissance Technologies LLC owned 0.76% of Castor Maritime worth $137,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 1.08% of the company’s stock.

Castor Maritime Company Profile

Castor Maritime Inc (NASDAQ: CTRM) is a maritime transportation company that owns and operates vessels serving international shipping markets. Its business is centered on the transportation of dry bulk commodities, crude oil and refined petroleum products, and containerized cargo.

The company’s fleet has included dry bulk carriers, tankers and containerships. These vessels transport goods such as iron ore, coal, grain, other bulk commodities, petroleum products and manufactured cargo on international trade routes.