Castor Maritime Inc. (NASDAQ:CTRM) Short Interest Up 84.5% in March

Castor Maritime Inc. (NASDAQ:CTRM) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 63,300 shares, an increase of 84.5% from the February 28th total of 34,300 shares. Based on an average daily volume of 54,600 shares, the short-interest ratio is presently 1.2 days. Currently, 0.7% of the company’s shares are short sold.

Institutional Investors Weigh In On Castor Maritime

A hedge fund recently raised its stake in Castor Maritime stock. Towerview LLC increased its position in Castor Maritime Inc. (NASDAQ:CTRM) by 1,820.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 240,000 shares of the company’s stock after purchasing an additional 227,500 shares during the quarter. Castor Maritime makes up about 0.5% of Towerview LLC’s portfolio, making the stock its 17th biggest position. Towerview LLC owned approximately 2.48% of Castor Maritime worth $660,000 at the end of the most recent reporting period. 1.08% of the stock is owned by institutional investors and hedge funds.

Castor Maritime Trading Down 5.6 %

NASDAQ:CTRM opened at $2.37 on Monday. The company has a market cap of $22.90 million, a price-to-earnings ratio of 0.71 and a beta of 0.78. Castor Maritime has a twelve month low of $2.33 and a twelve month high of $5.49. The stock has a fifty day simple moving average of $2.58 and a 200-day simple moving average of $3.23.

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.