Toro (NASDAQ:TORO) Trading Up 0.5% – What’s Next?

Toro Corp. (NASDAQ:TORO)’s share price shot up 0.5% on Friday . The company traded as high as $3.76 and last traded at $3.70. 43,364 shares changed hands during trading, a decline of 15% from the average session volume of 51,053 shares. The stock had previously closed at $3.68.

Analysts Set New Price Targets

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

Toro Stock Performance

The firm has a 50 day moving average price of $4.16 and a two-hundred day moving average price of $4.04. The company has a market cap of $79.44 million, a P/E ratio of 92.52 and a beta of 1.11.

Hedge Funds Weigh In On Toro

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC raised its position in shares of Toro by 19.2% in 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. Citadel Advisors LLC purchased a new position in Toro in the 3rd quarter valued at approximately $79,000. Group One Trading LLC bought a new stake in Toro during the 3rd quarter valued at $70,000. Finally, Founders Capital Management raised 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. Hedge funds and other institutional investors own 1.74% of the company’s stock.

About Toro

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.