Castor Maritime (NASDAQ:CTRM) Trading 0.5% Higher – Still a Buy?

Shares of Castor Maritime Inc. (NASDAQ:CTRM) traded up 0.5% during trading on Thursday . The stock traded as high as $2.09 and last traded at $2.03. 33,952 shares traded hands during mid-day trading, an increase of 25% from the average session volume of 27,245 shares. The stock had previously closed at $2.02.

Castor Maritime Price Performance

The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $2.21 and its 200 day moving average is $2.28. The firm has a market capitalization of $19.61 million, a price-to-earnings ratio of -0.90 and a beta of 1.02.

Castor Maritime (NASDAQ:CTRM) last released its quarterly earnings results on Monday, August 11th. The company reported $0.50 EPS for the quarter. Castor Maritime had a negative net margin of 40.48% and a negative return on equity of 0.38%. The business had revenue of $20.34 million for the quarter.

Institutional Trading of Castor Maritime

A hedge fund recently raised its stake in Castor Maritime stock. Goldman Sachs Group Inc. grew its stake in shares of Castor Maritime Inc. (NASDAQ:CTRM) by 20.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 26,600 shares of the company’s stock after acquiring an additional 4,586 shares during the quarter. Goldman Sachs Group Inc. owned about 0.28% of Castor Maritime worth $61,000 as of its most recent SEC filing. 1.08% of the stock is currently 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.