Castor Maritime (NASDAQ:CTRM) Issues Earnings Results

Castor Maritime (NASDAQ:CTRM) posted its quarterly earnings data on Wednesday. The company reported $0.03 earnings per share for the quarter, Zacks reports. Castor Maritime had a negative return on equity of 3.69% and a negative net margin of 65.40%.

Castor Maritime Price Performance

Castor Maritime stock traded up $0.18 during mid-day trading on Wednesday, reaching $2.10. 263,237 shares of the company were exchanged, compared to its average volume of 47,606. The firm has a market cap of $20.29 million, a PE ratio of -0.66 and a beta of 0.62. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.64 and a quick ratio of 3.64. The company has a fifty day simple moving average of $2.03 and a 200-day simple moving average of $2.15. Castor Maritime has a 12 month low of $1.84 and a 12 month high of $3.55.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Castor Maritime in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Castor Maritime stock. Goldman Sachs Group Inc. boosted its stake in Castor Maritime Inc. (NASDAQ:CTRM) by 20.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,600 shares of the company’s stock after purchasing an additional 4,586 shares during the quarter. Goldman Sachs Group Inc. owned about 0.28% of Castor Maritime worth $61,000 at the end of the most recent reporting period. 1.08% of the stock is currently owned by hedge funds and other institutional investors.

Castor Maritime Company Profile

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.