Castor Maritime Inc. [CTRM] Stock trading around $0.34 per share: What’s Next?

Castor Maritime Inc. [NASDAQ: CTRM] stock went on a downward path that fall over -6.78% on Friday, amounting to a one-week price increase of more than 72.10%. The company report on January 8, 2021 that Castor Maritime Inc. Announces Pricing of $26.0 Million Registered Direct Offering.

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Castor Maritime Inc. (NASDAQ: CTRM) announces that it has entered into a securities purchase agreement with certain unaffiliated institutional investors to issue approximately 137.0 million of its common shares and warrants to purchase up to an aggregate of 137.0 million common shares at a purchase price of $0.19 per common share and accompanying warrant in a registered direct offering. The warrants will have an exercise price of $0.19 per share, are exercisable immediately and will expire five years following the date of issuance.

Maxim Group LLC is acting as sole placement agent for the offering.

Over the last 12 months, CTRM stock dropped by -81.86%.

The market cap for the stock reached $75.83 million, with 225.96 million shares outstanding and 113.83 million shares in the current float. Compared to the average trading volume of 59.46M shares, CTRM stock reached a trading volume of 162079070 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Castor Maritime Inc. [CTRM]:

The Average True Range (ATR) for Castor Maritime Inc. is set at 0.05, with the Price to Sales ratio for CTRM stock in the period of the last 12 months amounting to 6.93. The Price to Book ratio for the last quarter was 0.83.

CTRM Stock Performance Analysis:

Castor Maritime Inc. [CTRM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 72.10. With this latest performance, CTRM shares gained by 108.97% in over the last four-week period, additionally plugging by 35.05% over the last 6 months – not to mention a drop of -81.86% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CTRM stock in for the last two-week period is set at 64.81, with the RSI for the last a single of trading hit 65.43, and the three-weeks RSI is set at 63.95 for Castor Maritime Inc. [CTRM]. The present Moving Average for the last 50 days of trading for this stock 0.1819, while it was recorded at 0.3237 for the last single week of trading, and 0.3291 for the last 200 days.

Insight into Castor Maritime Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Castor Maritime Inc. [CTRM] shares currently have an operating margin of +23.72 and a Gross Margin at +33.62. Castor Maritime Inc.’s Net Margin is presently recorded at +20.12.

Return on Total Capital for CTRM is now 7.31, given the latest momentum, and Return on Invested Capital for the company is 6.46. Return on Equity for this stock inclined to 10.46, with Return on Assets sitting at 5.91. When it comes to the capital structure of this company, Castor Maritime Inc. [CTRM] has a Total Debt to Total Equity ratio set at 119.34. Additionally, CTRM Total Debt to Total Capital is recorded at 54.41, with Total Debt to Total Assets ending up at 51.80. Long-Term Debt to Equity for the company is recorded at 107.81, with the Long-Term Debt to Total Capital now at 49.15.

Reflecting on the efficiency of the workforce at the company, Castor Maritime Inc. [CTRM] managed to generate an average of $1,200,786 per employee. Receivables Turnover for the company is 6.55 with a Total Asset Turnover recorded at a value of 0.29.

Castor Maritime Inc. [CTRM] Insider Position Details

There are presently around $1 million, or 13.90% of CTRM stock, in the hands of institutional investors. The top three institutional holders of CTRM stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 1,670,756, which is approximately 83.767% of the company’s market cap and around 0.95% of the total institutional ownership; SUSQUEHANNA INTERNATIONAL GROUP, LLP, holding 265,405 shares of the stock with an approximate value of $89000.0 in CTRM stocks shares; and MILLENNIUM MANAGEMENT LLC, currently with $29000.0 in CTRM stock with ownership of nearly 414.38% of the company’s market capitalization.

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5 institutional holders increased their position in Castor Maritime Inc. [NASDAQ:CTRM] by around 1,130,197 shares. Additionally, 5 investors decreased positions by around 911,478 shares, while 0 investors held positions by with 62,243 shares. The mentioned changes placed institutional holdings at 2,103,918 shares, according to the latest SEC report filing. CTRM stock had 2 new institutional investments in for a total of 82,694 shares, while 5 institutional investors sold positions of 911,478 shares during the same period.

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