Is Castor Maritime Inc. (NASDAQ: CTRM) Proving The Doubters Wrong?

Millennium Management LLC has recently announced that it has increased stake in Castor Maritime Inc. (NASDAQ:CTRM) by 109.94%. After grabbing 1.03 million shares, the institutional investor is now in possession of 0.54 million shares of the Industrials Company. The new investment brought the stake of investor firm to 1.09% having worth around $0.7 million. Moreover, Invesco Capital Management LLC increased its share by 0.23 million to have a control over 0.23 million shares. And Sabby Management LLC raised its holdings to 100.0 shares by acquiring 81889.0 shares or 0.09% of the stake.

Castor Maritime Inc. (CTRM) concluded trading on 05/25/23 at a closing price of $0.47, with 1.66 million shares of worth about $0.78 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -9.41% during that period and on Thursday the price saw a loss of about -14.64%. Currently the company’s common shares owned by public are about 94.61M shares, out of which, 94.61M shares are available for trading.

Invesco FTSE RAFI US 1500 Small M, Fidelity Nasdaq Composite Index F, and Marshall Wace UCITS Funds Plc – M are the top 3 mutual funds which are holding stakes in Castor Maritime Inc. Invesco FTSE RAFI US 1500 Small M is currently holding 0.23 million shares of worth totaling $0.15 million. The company recently came selling 567.0 shares which brought its stake up to 0.24% of the company’s outstanding shares. Marshall Wace UCITS Funds Plc – M, after buying 12491.0 shares, have now control over 0.01% of the stake in the company. It holds 12491.0 shares of worth $8544.0.

However, the stock later moved at a day high price of 0.5769, or with a loss of -14.64%. Stock saw a price change of -29.73% in past 5 days and over the past one month there was a price change of -33.21%. Year-to-date (YTD), CTRM shares are showing a performance of 6.77% which decreased to -35.36% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.41 but also hit the highest price of $1.24 during that period. The average intraday trading volume for Castor Maritime Inc. shares is 1.49 million. The stock is currently trading -27.43% below its 20-day simple moving average (SMA20), while that difference is down -33.80% for SMA50 and it goes to -16.81% lower than SMA200.

Millennium Management LLC acquired 1.03 million shares of Castor Maritime Inc. having value of about $0.7 million. Data submitted at the U.S SEC by Millennium Management LLC revealed that the firm now holds 0.54 million shares in the company valued at close to $253542.44, or have control over 109.94% stake in the company. Castor Maritime Inc. (NASDAQ: CTRM) currently have 94.61M outstanding shares and institutions hold larger chunk of about 1.40% of that. Holding of mutual funds in the company is about 0.31% while other institutional holders and individual stake holders have control over 1.69% and — of the stake respectively.

The stock has a current market capitalization of $44.64M and its 3Y-monthly beta is at 1.01. PE ratio of stock for trailing 12 months is 0.38, while it has posted earnings per share of $1.25 in the same period. It has Quick Ratio of 3.20 while making debt-to-equity ratio of 0.33. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CTRM, volatility over the week remained 14.41% while standing at 7.61% over the month.

Stock’s fiscal year EPS is expected to rise by 164.00%.

Analysts at 0 brokerage firms have issued recommendations for the Castor Maritime Inc. (CTRM)’s stock out of those 0 Wall Street analysts, 0 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.