Castor Maritime (NASDAQ:CTRM) Stock Price Up 2.5% – Here’s Why

Shares of Castor Maritime Inc. (NASDAQ:CTRM) shot up 2.5% during trading on Monday . The company traded as high as $2.10 and last traded at $2.09. 30,731 shares were traded during trading, a decline of 4% from the average session volume of 32,049 shares. The stock had previously closed at $2.04.

Analyst Ratings Changes

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 data from MarketBeat, Castor Maritime currently has a consensus rating of “Sell”.

Castor Maritime Price Performance

The stock has a market cap of $20.19 million, a P/E ratio of 1.49 and a beta of 1.21. 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’s fifty day simple moving average is $2.09 and its 200-day simple moving average is $2.06.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew 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 period. Goldman Sachs Group Inc. boosted its stake in 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 buying an additional 4,586 shares in the last quarter. Jane Street Group LLC bought a new stake in Castor Maritime in the fourth quarter valued at $37,000. Finally, Virtu Financial LLC acquired a new position in Castor Maritime during the fourth quarter worth $25,000. Institutional investors own 1.08% of the company’s stock.

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.