Toro (NASDAQ:TORO) Stock Price Up 2.4% – Here’s Why

Toro Corp. (NASDAQ:TORO) rose 2.4% during trading on Tuesday . The stock traded as high as $3.85 and last traded at $3.85. Approximately 34,320 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 117,502 shares. The stock had previously closed at $3.76.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Toro in a research note on Monday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Toro Price Performance

The firm has a market cap of $82.67 million, a price-to-earnings ratio of 192.60 and a beta of 1.32. The business has a 50-day moving average of $3.76 and a 200-day moving average of $2.94.

Institutional Investors Weigh In On Toro

A hedge fund recently bought a new stake in Toro stock. Group One Trading LLC bought a new stake in Toro Corp. (NASDAQ:TORO) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,265 shares of the company’s stock, valued at approximately $70,000. Group One Trading LLC owned approximately 0.12% of Toro at the end of the most recent quarter. Institutional investors and hedge funds own 1.74% of the company’s stock.

Toro Company Profile

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.