Castor Maritime Inc. [NASDAQ: CTRM] traded at a low on 04/05/21, posting a -20.98 loss after which it closed the day’ session at $0.58. The company report on April 5, 2021 that Castor Maritime Inc. Announces Pricing of $125 Million Registered Direct Offering.
Castor Maritime Inc. (NASDAQ: CTRM) announces that it has entered into a securities purchase agreement with certain unaffiliated institutional investors to issue approximately 192.3 million of its common shares and warrants to purchase up to an aggregate of 192.3 million common shares at a purchase price of $0.65 per common share and accompanying warrant in a registered direct offering (the “Offering”). The warrants will have an exercise price of $0.65 per share, are exercisable immediately and will expire five years following the date of issuance.
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Maxim Group LLC is acting as sole placement agent for the Offering.
The results of the trading session contributed to over 311735093 shares changing hands. Over the past one week, the price volatility of Castor Maritime Inc. stands at 6.63% while the volatility over the past one month is 10.45%.
The market cap for CTRM stock reached $412.41 million, with 707.16 million shares outstanding and 705.91 million shares in the current float. Compared to the average trading volume of 188.57M shares, CTRM reached a trading volume of 311735093 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Castor Maritime Inc. [CTRM]?
The Average True Range (ATR) for Castor Maritime Inc. is set at 0.10, with the Price to Sales ratio for CTRM stock in the period of the last 12 months amounting to 33.03. The Price to Book ratio for the last quarter was 1.46.
How has CTRM stock performed recently?
Castor Maritime Inc. [CTRM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -27.10. With this latest performance, CTRM shares dropped by -25.78% in over the last four-week period, additionally plugging by 267.95% over the last 6 months – not to mention a drop of -2.80% 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 30.94, with the RSI for the last a single of trading hit 20.39, and the three-weeks RSI is set at 38.15 for Castor Maritime Inc. [CTRM]. The present Moving Average for the last 50 days of trading for this stock 0.9056, while it was recorded at 0.7280 for the last single week of trading, and 0.3833 for the last 200 days.
Castor Maritime Inc. [CTRM]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Castor Maritime Inc. [CTRM] shares currently have an operating margin of +3.62 and a Gross Margin at +20.42. Castor Maritime Inc.’s Net Margin is presently recorded at -14.04.
Return on Total Capital for CTRM is now 0.91, given the latest momentum, and Return on Invested Capital for the company is -3.86. Return on Equity for this stock declined to -5.35, with Return on Assets sitting at -3.35. When it comes to the capital structure of this company, Castor Maritime Inc. [CTRM] has a Total Debt to Total Equity ratio set at 34.72. Additionally, CTRM Total Debt to Total Capital is recorded at 25.77, with Total Debt to Total Assets ending up at 24.45. Long-Term Debt to Equity for the company is recorded at 21.16, with the Long-Term Debt to Total Capital now at 15.71.
Reflecting on the efficiency of the workforce at the company, Castor Maritime Inc. [CTRM] managed to generate an average of -$1,753,533 per employee. Receivables Turnover for the company is 6.51 with a Total Asset Turnover recorded at a value of 0.24.
Insider trade positions for Castor Maritime Inc. [CTRM]
There are presently around $8 million, or 3.86% of CTRM stock, in the hands of institutional investors. The top three institutional holders of CTRM stocks are: ANSON FUNDS MANAGEMENT LP with ownership of 4,940,217, which is approximately New of the company’s market cap and around 1.59% of the total institutional ownership; CVI HOLDINGS, LLC, holding 4,086,654 shares of the stock with an approximate value of $2.38 million in CTRM stocks shares; and SABBY MANAGEMENT, LLC, currently with $1.66 million in CTRM stock with ownership of nearly New of the company’s market capitalization.
15 institutional holders increased their position in Castor Maritime Inc. [NASDAQ:CTRM] by around 13,721,761 shares. Additionally, 4 investors decreased positions by around 1,545,739 shares, while 0 investors held positions by with 987,560 shares. The mentioned changes placed institutional holdings at 14,279,940 shares, according to the latest SEC report filing. CTRM stock had 14 new institutional investments in for a total of 13,715,735 shares, while 2 institutional investors sold positions of 142,598 shares during the same period.