Castor Maritime Inc. (NASDAQ:CTRM) Sees Significant Drop in Short Interest

Castor Maritime Inc. (NASDAQ:CTRM) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 20,000 shares, a decrease of 71.5% from the December 15th total of 70,200 shares. Based on an average trading volume of 60,900 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Castor Maritime stock. Renaissance Technologies LLC grew its position in Castor Maritime Inc. (NASDAQ:CTRM) by 39.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 29,469 shares of the company’s stock after buying an additional 8,400 shares during the period. Renaissance Technologies LLC owned 0.30% of Castor Maritime worth $136,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 1.08% of the company’s stock.

Castor Maritime Stock Performance

CTRM traded down $0.03 during midday trading on Tuesday, hitting $2.74. The company had a trading volume of 24,536 shares, compared to its average volume of 60,686. Castor Maritime has a twelve month low of $2.67 and a twelve month high of $5.50. The company has a market capitalization of $26.47 million, a PE ratio of 0.82 and a beta of 0.89. The firm’s 50-day simple moving average is $3.25 and its 200-day simple moving average is $4.04.

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.