Castor Maritime Inc. (NASDAQ: CTRM) saw a huge decrease in short rate of interest in December. As of December 31st, there was short passion totalling 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 Bottom Right Here.
Hedge funds as well as other institutional investors have lately changed their holdings of the business. Consultant Group Holdings Inc. grew its position in Castor Maritime by 66.1% throughout the 2nd quarter. Advisor Team Holdings Inc. now possesses 16,050 shares of the business’s stock valued at $42,000 after acquiring an added 6,386 shares during the last quarter. LPL Financial LLC bought a new setting in Castor Maritime throughout the second quarter valued at $49,000. Squarepoint Ops LLC acquired a 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 acquired a new setting in shares of Castor Maritime throughout the third quarter valued at $81,000. Institutional financiers and hedge funds very own 3.04% of the company’s stock.
Shares of Castor Maritime 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 quantity of 1,184,940. Castor Maritime has a 12 month low of $1.32 and also a 12 month high of $19.50. The company has a debt-to-equity ratio of 0.22, a present ratio of 1.85 and also a fast ratio of 1.70. The firm has a market capitalization of $115.14 million, a PE proportion of 9.00 and a beta of 0.40. The company has a fifty day relocating standard of $1.72 and a two-hundred day moving average of $2.09.
Castor Maritime (NASDAQ: CTRM) last launched its quarterly incomes data on Monday, November 8th. The firm reported $0.16 EPS for the quarter. Castor Maritime had an internet margin of 29.17% and a return on equity of 9.68%. Business had earnings of $43.28 million for the quarter.
Castor Maritime Business Profile.
Castor Maritime Inc, through its subsidiaries, engages in sea transportation of completely dry mass cargoes worldwide. It offers seaborne transport solutions for dry mass freight, including iron ore, coal, grains, steel items, plant foods, concrete, bauxite, sugar, as well as scrap steels. The firm operates three Panamax vessels with a bring ability of about 76,122 deadweight bunch.
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Castor Maritime Inc. Announces$ 55.0 Million Debt Financing and New Charter Agreement.
astor Maritime Inc. (NASDAQ: CTRM), (” Castor”, or the “Firm”), a diversified worldwide delivery business, announces the closing as well as drawdown of a $55.0 million elderly term finance center with a European financial institution (the “$ 55.0 Million Financing”), via, and safeguarded by, five of its dry mass vessel ship-owning subsidiaries and also ensured by the Company. The Firm means to use the internet earnings from the $55.0 Million Funding for basic business objectives, including supporting the Company’s growth strategies.
The $55.0 Million Financing has a tone of 5 years and bears rate of interest at adj. SOFR plus 3.15% per year.
Mr. Petros Panagiotidis, Chief Executive Officer of Castor, commented:.
” We are happy to introduce the closing of this new debt funding, our largest to day, as well as the commencement of a new partnership with a prominent European financial institution.
Our team believe that this new debt financing improves our capital structure and also boosts our capacity to seek our critical goals and development goals.”.
New Charter Agreement.
The M/V Magic Callisto, a 2012 built Panamax completely dry bulk carrier, has actually been fixed on a time charter agreement at a gross daily charter rate equal to 101% of the average of the Baltic Panamax Index 4TC routes1. The charter commenced on January 12, 2022, and has a minimum period of nine months and also an optimum period of concerning twelve months (+/- 15 days) at the charterer’s alternative.
The benchmark vessel utilized in the calculation of the average of the Baltic Panamax Index 4TC courses is a non-scrubber fitted 74,000 mt dwt vessel (Panamax) with particular age, speed – intake, and also style qualities.
Regarding Castor Maritime Inc
. Castor Maritime Inc. is a worldwide service provider of shipping transport services via its possession of oceangoing freight vessels.