Toro (NASDAQ:TORO) Trading 2.4% Higher

Shares of Toro Corp. (NASDAQ:TORO) traded up 2.4% during mid-day trading on Wednesday . The company traded as high as $3.40 and last traded at $3.38. 33,994 shares were traded during trading, a decline of 14% from the average session volume of 39,603 shares. The stock had previously closed at $3.30.

Toro Stock Performance

The firm has a market cap of $64.15 million, a price-to-earnings ratio of 1.22 and a beta of 1.98. The business has a 50 day simple moving average of $3.59 and a 200-day simple moving average of $4.33.

Hedge Funds Weigh In On Toro

A hedge fund recently raised its stake in Toro stock. Renaissance Technologies LLC grew its position in shares of Toro Corp. (NASDAQ:TORO) by 13.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,659 shares of the company’s stock after buying an additional 9,459 shares during the quarter. Renaissance Technologies LLC owned 0.41% of Toro worth $311,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 1.74% of the company’s stock.

About Toro

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.