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

Castor Maritime Inc. (NASDAQ:CTRM) saw a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 25,000 shares, a decrease of 29.8% from the August 31st total of 35,600 shares. Based on an average daily volume of 47,400 shares, the short-interest ratio is currently 0.5 days. Approximately 0.3% of the company’s stock are sold short.

Castor Maritime Stock Up 0.5 %

Castor Maritime stock traded up $0.02 during mid-day trading on Friday, hitting $4.08. The company had a trading volume of 35,747 shares, compared to its average volume of 65,916. The stock has a market cap of $39.41 million, a price-to-earnings ratio of 1.65 and a beta of 0.88. Castor Maritime has a 1 year low of $2.86 and a 1 year high of $6.50. The company has a quick ratio of 10.00, a current ratio of 10.03 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $4.65 and a 200 day moving average of $4.26.

Castor Maritime (NASDAQ:CTRM) last announced its earnings results on Thursday, August 8th. The company reported $0.97 earnings per share (EPS) for the quarter. The business had revenue of $16.28 million for the quarter. Castor Maritime had a net margin of 76.76% and a return on equity of 12.92%.

Hedge Funds Weigh In On Castor Maritime

A hedge fund recently raised its stake in Castor Maritime stock. Renaissance Technologies LLC boosted its position in Castor Maritime Inc. (NASDAQ:CTRM) by 39.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,469 shares of the company’s stock after buying an additional 8,400 shares during the period. Renaissance Technologies LLC owned approximately 0.30% of Castor Maritime worth $136,000 as of its most recent SEC filing. 1.08% of the stock is owned by hedge funds and other institutional investors.

About Castor Maritime

Castor Maritime Inc provides shipping services worldwide. The company operates through Dry Bulk Vessels and Containerships segments. It offers seaborne transportation services for dry bulk cargo; and commodities, such as iron ore, coal, soybeans, etc. As of December 31, 2023, the company owned and operated a fleet of 17 vessels primarily consisting of one Capesize, five Kamsarmax, two Handysize tanker vessels, and nine Panamax dry bulk vessels, as well as two 2,700 TEU containership vessels.