Castor Maritime Inc. [NASDAQ: CTRM] traded at a low on 05/24/21, posting a -14.22 loss after which it closed the day’ session at $0.36. The company report on May 22, 2021 that Castor Maritime Inc. Announces Reverse Stock Split to be Effective May 28, 2021.
Castor Maritime Inc. (NASDAQ: CTRM), (“Castor”, or the “Company”), a diversified global shipping company, announces that its board of directors (the “Board”) has determined to effect a 1-for-10 reverse stock split of the Company’s common shares. The Company’s shareholders approved the reverse stock split by a ratio of not less than 1-for-2 and not more than 1-for-75 and granted the Board the authority to determine the exact split ratio and when to proceed with the reverse stock split at the Company’s Annual Meeting of Shareholders held on November 25, 2020.
The reverse stock split will take effect, and the Company’s common shares will begin trading on a split-adjusted basis on the Nasdaq Capital Market (“Nasdaq”) as of the opening of trading on May 28, 2021. The CUSIP number of Y1146L125 will be assigned to the Company’s common shares when the reverse stock split becomes effective.
The results of the trading session contributed to over 158796711 shares changing hands. Over the past one week, the price volatility of Castor Maritime Inc. stands at 5.65% while the volatility over the past one month is 8.48%.
The market cap for CTRM stock reached $258.61 million, with 899.56 million shares outstanding and 706.17 million shares in the current float. Compared to the average trading volume of 95.64M shares, CTRM reached a trading volume of 158796711 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 0.04, with the Price to Sales ratio for CTRM stock in the period of the last 12 months amounting to 20.69. The Price to Book ratio for the last quarter was 0.91, with the Price to Cash per share for the same quarter was set at 0.01.
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 -17.91. With this latest performance, CTRM shares dropped by -24.39% in over the last four-week period, additionally plugging by 135.34% over the last 6 months – not to mention a drop of -45.46% 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 33.54, with the RSI for the last a single of trading hit 31.09, and the three-weeks RSI is set at 36.14 for Castor Maritime Inc. [CTRM]. The present Moving Average for the last 50 days of trading for this stock 0.5766, while it was recorded at 0.4180 for the last single week of trading, and 0.4069 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.Castor Maritime Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.
Insider trade positions for Castor Maritime Inc. [CTRM]
There are presently around $3 million, or 3.20% of CTRM stock, in the hands of institutional investors. The top three institutional holders of CTRM stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 6,799,367, which is approximately 1316.355% of the company’s market cap and around 1.59% of the total institutional ownership; VIRTU FINANCIAL LLC, holding 770,559 shares of the stock with an approximate value of $0.28 million in CTRM stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.17 million in CTRM stock with ownership of nearly 0% of the company’s market capitalization.
37 institutional holders increased their position in Castor Maritime Inc. [NASDAQ:CTRM] by around 7,977,571 shares. Additionally, 11 investors decreased positions by around 12,698,849 shares, while 2 investors held positions by with 11,117,758 shares. The mentioned changes placed institutional holdings at 9,558,662 shares, according to the latest SEC report filing. CTRM stock had 33 new institutional investments in for a total of 802,027 shares, while 11 institutional investors sold positions of 12,698,849 shares during the same period.