Toro (NASDAQ:TORO) Trading Up 0.9% – Time to Buy?

Shares of Toro Corp. (NASDAQ:TORO) traded up 0.9% during trading on Monday . The company traded as high as $3.37 and last traded at $3.25. 17,344 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 40,448 shares. The stock had previously closed at $3.22.

Toro Stock Performance

The company has a market capitalization of $61.69 million, a P/E ratio of 3.07 and a beta of 1.24. The firm’s fifty day moving average is $2.81 and its 200-day moving average is $3.23.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Toro stock. Renaissance Technologies LLC boosted its position in Toro Corp. (NASDAQ:TORO) by 13.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 77,659 shares of the company’s stock after purchasing an additional 9,459 shares during the period. Renaissance Technologies LLC owned about 0.41% of Toro worth $311,000 as of its most recent SEC filing. 1.74% of the stock is currently owned by institutional investors and hedge funds.

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.