Castor Maritime (NASDAQ:CTRM) Shares Up 0.6% – Here’s Why
by Amy Steele · The Cerbat GemCastor Maritime Inc. (NASDAQ:CTRM – Get Free Report) shares shot up 0.6% during mid-day trading on Wednesday . The stock traded as high as $2.42 and last traded at $2.4250. 31,460 shares traded hands during trading, a decline of 66% from the average session volume of 91,662 shares. The stock had previously closed at $2.41.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Castor Maritime in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.
Read Our Latest Analysis on CTRM
Castor Maritime Stock Up 0.6%
The firm has a market cap of $23.43 million, a PE ratio of -0.78 and a beta of 0.62. The company has a quick ratio of 5.61, a current ratio of 5.61 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $2.07 and a two-hundred day moving average price of $2.15.
Hedge Funds Weigh In On Castor Maritime
A hedge fund recently raised its stake in Castor Maritime stock. Goldman Sachs Group Inc. lifted its stake in shares of Castor Maritime Inc. (NASDAQ:CTRM – Free Report) by 20.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,600 shares of the company’s stock after buying an additional 4,586 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.28% of Castor Maritime worth $61,000 at the end of the most recent reporting period. Institutional investors own 1.08% of the company’s stock.
Castor Maritime Company Profile
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.