Toro Corp. (NASDAQ:TORO) Short Interest Update

Toro Corp. (NASDAQ:TORO) was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 131,650 shares, a decrease of 47.8% from the June 30th total of 252,362 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily volume of 39,564 shares, the short-interest ratio is presently 3.3 days.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TORO. Wall Street Zen upgraded shares of Toro to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings raised Toro from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Institutional Investors Weigh In On Toro

Hedge funds have recently added to or reduced their stakes in the company. Founders Capital Management boosted its holdings in Toro by 28.6% in the 4th quarter. Founders Capital Management now owns 9,000 shares of the company’s stock valued at $48,000 after purchasing an additional 2,000 shares in the last quarter. Group One Trading LLC acquired a new stake in shares of Toro in the 3rd quarter valued at approximately $70,000. Citadel Advisors LLC purchased a new stake in shares of Toro in the third quarter valued at approximately $79,000. Finally, Renaissance Technologies LLC boosted its stake 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 buying an additional 30,100 shares in the last quarter. Institutional investors and hedge funds own 1.74% of the company’s stock.

Toro Price Performance

Toro stock opened at $5.06 on Friday. The business has a 50 day simple moving average of $5.04 and a 200-day simple moving average of $4.60. Toro has a 12 month low of $2.64 and a 12 month high of $8.50. The stock has a market capitalization of $108.64 million, a PE ratio of 126.53 and a beta of 2.55.

Toro (NASDAQ:TORO) last announced its quarterly earnings data on Thursday, May 28th. The company reported ($0.02) earnings per share (EPS) for the quarter. The firm had revenue of $5.96 million during the quarter. Toro had a net margin of 22.67% and a return on equity of 2.49%.

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.