Toro (NASDAQ:TORO) Trading Down 0.3% – Here’s What Happened

Toro Corp. (NASDAQ:TORO)’s stock price was down 0.3% during mid-day trading on Thursday . The company traded as low as $3.50 and last traded at $3.54. Approximately 19,627 shares traded hands during trading, a decline of 64% from the average daily volume of 54,303 shares. The stock had previously closed at $3.55.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Toro in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Toro presently has an average rating of “Sell”.

Toro Trading Down 0.3%

The firm has a 50 day moving average price of $4.68 and a 200 day moving average price of $3.93. The stock has a market capitalization of $76.00 million, a PE ratio of 88.52 and a beta of 1.14.

Toro Dividend Announcement

The company also recently declared a dividend, which was paid on Friday, January 16th. Shareholders of record on Tuesday, December 16th were issued a dividend of $1.75 per share.

Hedge Funds Weigh In On Toro

Hedge funds have recently made changes to their positions in the business. Group One Trading LLC purchased a new position in Toro during the third quarter valued at $70,000. Citadel Advisors LLC purchased a new stake in Toro in the 3rd quarter worth about $79,000. Founders Capital Management boosted its holdings in Toro by 28.6% during the 4th quarter. Founders Capital Management now owns 9,000 shares of the company’s stock valued at $48,000 after acquiring an additional 2,000 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Toro by 19.2% during the fourth quarter. Renaissance Technologies LLC now owns 186,700 shares of the company’s stock valued at $986,000 after purchasing an additional 30,100 shares during the period. Institutional investors 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.