Castor Maritime Inc. [CTRM] Stock trading around $2.03 per share: What’s Next?

Castor Maritime Inc. [NASDAQ: CTRM] loss -6.02% on the last trading session, reaching $2.03 price per share at the time. The company report on June 24, 2021 that Castor Maritime Inc. Announces a New Charter Agreement and Delivery of the M/T Wonder Formosa.

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Castor Maritime Inc. (NASDAQ: CTRM), (“Castor”, or the “Company”) a diversified global shipping company, announces that the M/V Magic Argo, a 2009 built Kamsarmax dry bulk carrier, following completion of its previous employment contract, has been fixed on a time charter contract earning a daily gross charter rate of $33,000, which commenced on June 23, 2021, with a term of about 100 days.

The Company also announces that on June 22, 2021, it took delivery of the M/T Wonder Formosa, the 2006 Korean-built MR1 tanker it had agreed to acquire as previously announced on April 30, 2021. The M/T Wonder Formosa has been entered into Scorpio’s Handy Plus Pool, specializing in the employment of MR1 tanker vessels. The M/T Wonder Formosa acquisition was financed in its entirety with cash on hand.

Castor Maritime Inc. represents 89.96 million in outstanding shares, while the company has a total market value of $194.29 million with the latest information. CTRM stock price has been found in the range of $2.03 to $2.17.

If compared to the average trading volume of 7.70M shares, CTRM reached a trading volume of 2999512 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Castor Maritime Inc. [CTRM]:

The Average True Range (ATR) for Castor Maritime Inc. is set at 0.17, with the Price to Sales ratio for CTRM stock in the period of the last 12 months amounting to 11.63. The Price to Book ratio for the last quarter was 0.07, with the Price to Cash per share for the same quarter was set at 0.65.

Trading performance analysis for CTRM stock

Castor Maritime Inc. [CTRM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.14. With this latest performance, CTRM shares dropped by -35.35% in over the last four-week period, additionally sinking by -43.61% over the last 6 months – not to mention a drop of -20.39% 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 24.44, with the RSI for the last a single of trading hit 19.70, and the three-weeks RSI is set at 28.87 for Castor Maritime Inc. [CTRM]. The present Moving Average for the last 50 days of trading for this stock 3.22, while it was recorded at 2.17 for the last single week of trading, and 4.30 for the last 200 days.

Castor Maritime Inc. [CTRM]: A deeper dive into fundamental analysis

Castor Maritime Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.90 and a Current Ratio set at 4.90.

An analysis of insider ownership at Castor Maritime Inc. [CTRM]

There are presently around $2 million, or 2.60% of CTRM stock, in the hands of institutional investors. The top three institutional holders of CTRM stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 679,937, which is approximately 1316.358% of the company’s market cap and around 1.25% of the total institutional ownership; VIRTU FINANCIAL LLC, holding 77,056 shares of the stock with an approximate value of $0.16 million in CTRM stocks shares; and STATE STREET CORP, currently with $0.12 million in CTRM stock with ownership of nearly New of the company’s market capitalization.

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34 institutional holders increased their position in Castor Maritime Inc. [NASDAQ:CTRM] by around 854,436 shares. Additionally, 14 investors decreased positions by around 1,276,255 shares, while 4 investors held positions by with 1,117,896 shares. The mentioned changes placed institutional holdings at 1,012,795 shares, according to the latest SEC report filing. CTRM stock had 30 new institutional investments in for a total of 136,882 shares, while 14 institutional investors sold positions of 1,276,255 shares during the same period.

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