Castor Maritime (NASDAQ:CTRM) Trading 5.6% Higher – Here’s Why

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

Castor Maritime Price Performance

The company has a market cap of $27.24 million, a PE ratio of 0.84 and a beta of 0.93. The stock has a fifty day moving average price of $2.78 and a 200-day moving average price of $3.66.

Institutional Investors Weigh In On Castor Maritime

A hedge fund recently bought a new stake in Castor Maritime stock. Towerview LLC bought a new stake in Castor Maritime Inc. (NASDAQ:CTRM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 12,500 shares of the company’s stock, valued at approximately $53,000. Castor Maritime accounts for approximately 0.0% of Towerview LLC’s investment portfolio, making the stock its 25th largest position. Towerview LLC owned about 0.13% of Castor Maritime as of its most recent SEC filing. Institutional investors own 1.08% of the company’s stock.

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.