Castor Maritime (NASDAQ:CTRM) Trading Up 5.6% – What’s Next?

Shares of Castor Maritime Inc. (NASDAQ:CTRM) traded up 5.6% during trading on Wednesday . The stock traded as high as $2.92 and last traded at $2.82. 183,434 shares were traded during mid-day trading, an increase of 320% from the average session volume of 43,645 shares. The stock had previously closed at $2.67.

Castor Maritime Stock Performance

The company has a market cap of $27.24 million, a price-to-earnings ratio of 0.84 and a beta of 0.93. The company’s 50 day moving average price is $2.78 and its 200 day moving average price is $3.66.

Hedge Funds Weigh In On Castor Maritime

A hedge fund recently bought a new stake in Castor Maritime stock. Towerview LLC purchased a new position in shares of Castor Maritime Inc. (NASDAQ:CTRM) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,500 shares of the company’s stock, valued at approximately $53,000. Castor Maritime makes up approximately 0.0% of Towerview LLC’s portfolio, making the stock its 25th biggest position. Towerview LLC owned about 0.13% of Castor Maritime as of its most recent filing with the SEC. Hedge funds and other institutional investors own 1.08% of the company’s stock.

About Castor Maritime

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.