Castor Maritime Inc. [CTRM] Stock trading around $1.47 per share: What’s Next?

Castor Maritime Inc. [NASDAQ: CTRM] stock went on a downward path that fall over -15.03% on Friday, amounting to a one-week price increase of more than 94.75%. The company report on February 11, 2021 that Castor Maritime Inc. Announces the En Bloc Acquisition of Two Aframax LR2 Tankers with Time Charters Attached.

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Castor Maritime Inc. (NASDAQ: CTRM), (“Castor” or the “Company”), a diversified global shipping company, announces that it has entered, through two separate wholly-owned subsidiaries, into agreements to purchase two 2005 Korean-built Aframax LR2 tankers from an unaffiliated third-party seller for an aggregate purchase price of $27.2 million.

Both vessels have attached time charter contracts with a reputable charterer (the “Charterer”) with an estimated remaining term of about one year, each of which shall provide the Company with a minimum gross daily hire of $15,000 and have a 50% profit sharing arrangement over such level based on a predetermined formula. The Charterer has the option to extend the duration of each contract for an additional one-year term. In addition, the vessels have very recently completed their scheduled special surveys and dry-dockings and are equipped with ballast water treatment systems.

Over the last 12 months, CTRM stock rose by 17.60%.

The market cap for the stock reached $747.51 million, with 508.51 million shares outstanding and 130.89 million shares in the current float. Compared to the average trading volume of 157.99M shares, CTRM stock reached a trading volume of 200341472 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 0.19, with the Price to Sales ratio for CTRM stock in the period of the last 12 months amounting to 68.30. The Price to Book ratio for the last quarter was 3.64.

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 94.75. With this latest performance, CTRM shares gained by 295.16% in over the last four-week period, additionally plugging by 749.22% over the last 6 months – not to mention a rise of 17.60% 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 76.48, with the RSI for the last a single of trading hit 75.56, and the three-weeks RSI is set at 76.52 for Castor Maritime Inc. [CTRM]. The present Moving Average for the last 50 days of trading for this stock 0.4057, while it was recorded at 1.2878 for the last single week of trading, and 0.3385 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 $2 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 480,061, which is approximately -71.267% of the company’s market cap and around 0.95% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 459,572 shares of the stock with an approximate value of $0.68 million in CTRM stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $0.39 million in CTRM stock with ownership of nearly 452.766% of the company’s market capitalization.

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7 institutional holders increased their position in Castor Maritime Inc. [NASDAQ:CTRM] by around 1,018,148 shares. Additionally, 5 investors decreased positions by around 2,067,887 shares, while 0 investors held positions by with 1,523,275 shares. The mentioned changes placed institutional holdings at 1,562,760 shares, according to the latest SEC report filing. CTRM stock had 5 new institutional investments in for a total of 732,231 shares, while 4 institutional investors sold positions of 877,192 shares during the same period.

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