Castor Maritime Inc. (NASDAQ: CTRM) saw a large decline in short interest in December. As of December 31st, there was short interest completing 2,110,000 shares, a decrease of 29.2% from the December 15th total amount of 2,980,000 shares. Based upon a typical trading quantity of 2,170,000 shares, the days-to-cover proportion is presently 1.0 days.
Castor Maritime Stock May Be Nearing a Base Below.
Hedge funds and other institutional financiers have just recently modified their holdings of the business. Consultant Group Holdings Inc. grew its setting in Castor Maritime by 66.1% during the second quarter. Consultant Group Holdings Inc. now has 16,050 shares of the company’s stock valued at $42,000 after getting an additional 6,386 shares throughout the last quarter. LPL Financial LLC bought a new position in Castor Maritime throughout the second quarter valued at $49,000. Squarepoint Ops LLC purchased a brand-new placement in Castor Maritime throughout the 3rd quarter valued at $54,000. Millennium Management LLC got a new setting in shares of Castor Maritime during the second quarter valued at $66,000. Lastly, Toroso Investments LLC purchased a brand-new position in shares of Castor Maritime during the 3rd quarter valued at $81,000. Institutional capitalists and hedge funds own 3.04% of the firm’s stock.
Shares of Castor Maritime Inc. (NASDAQ: CTRM) traded down $0.07 during trading on Tuesday, hitting $1.28. The stock had a trading volume of 54,032 shares, contrasted to its typical volume of 1,184,940. Castor Maritime has a 12 month low of $1.32 and also a year high of $19.50. The company has a debt-to-equity proportion of 0.22, an existing proportion of 1.85 and also a quick ratio of 1.70. The business has a market capitalization of $115.14 million, a PE proportion of 9.00 as well as a beta of 0.40. The company has a fifty day relocating average of $1.72 as well as a two-hundred day moving standard of $2.09.
Castor Maritime (NASDAQ: CTRM) last released its quarterly earnings information on Monday, November 8th. The company reported $0.16 EPS for the quarter. Castor Maritime had an internet margin of 29.17% and a return on equity of 9.68%. The business had income of $43.28 million for the quarter.
Castor Maritime Company Profile.
Castor Maritime Inc, with its subsidiaries, participates in ocean transportation of completely dry bulk freights worldwide. It supplies seaborne transport solutions for completely dry bulk cargo, consisting of iron ore, coal, grains, steel products, fertilizers, cement, bauxite, sugar, and scrap metals. The firm runs 3 Panamax vessels with a lugging capability of approximately 76,122 deadweight load.
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Castor Maritime Inc. Reveals$ 55.0 Million Debt Financing and also New Charter Agreement.
astor Maritime Inc. (NASDAQ: CTRM), (” Castor”, or the “Company”), a varied global shipping company, introduces the closing and also drawdown of a $55.0 million elderly term loan center with a European bank (the “$ 55.0 Million Financing”), via, and also safeguarded by, 5 of its dry bulk vessel ship-owning subsidiaries and also ensured by the Firm. The Business plans to make use of the net proceeds from the $55.0 Million Financing for general business objectives, including supporting the Business’s growth strategies.
The $55.0 Million Financing has a tenor of five years and also bears passion at adj. SOFR plus 3.15% per year.
Mr. Petros Panagiotidis, President of Castor, commented:.
” We enjoy to introduce the closing of this brand-new financial obligation financing, our largest to date, as well as the start of a brand-new connection with a top European financial institution.
We believe that this brand-new financial debt funding improves our resources structure and enhances our capability to seek our calculated goals and also growth goals.”.
New Charter Contract.
The M/V Magic Callisto, a 2012 constructed Panamax dry mass carrier, has been fixed on a time charter agreement at a gross daily charter rate equal to 101% of the standard of the Baltic Panamax Index 4TC routes1. The charter started on January 12, 2022, as well as has a minimal duration of nine months and a maximum period of regarding twelve months (+/- 15 days) at the charterer’s choice.
The benchmark vessel made use of in the estimation of the average of the Baltic Panamax Index 4TC paths is a non-scrubber fitted 74,000 mt dwt vessel (Panamax) with details age, speed – intake, and also style features.
Regarding Castor Maritime Inc
. Castor Maritime Inc. is a global carrier of delivery transport solutions with its ownership of oceangoing cargo vessels.