Castor Maritime is a “growth-oriented” dry bulk shipping company. The fall in the company’s stock has also got to do with its status as a “growth stock.” Rising interest rates make stocks that have their cash flows skewed to the future less attractive. Article continues below advertisement
What is the Castor Maritime stock price forecast?
Apr 12, 2021 · The BDI tracks the rates shippers like Castor Maritime can get for hauling dry bulk goods (e.g., coal, iron pellets, and grain) across the ocean. The problem is, over the last three weeks, the BDI ...
Is Castor maritime's CTRM in a bull market?
Apr 05, 2021 · Shares of Castor Maritime ( CTRM -2.17% ) plunged on Monday after the shipping company announced the pricing of its latest stock offering. As of 2:10 p.m. EDT, its stock price was down 20%. So what...
How did Castor maritime (CTRM) perform in Q4 earnings?
Apr 05, 2021 · CTRM Stock Down on Equity Issuance News. Today, Castor Maritime announced it would be raising $125 million through issuing 192 million shares and 192 million warrants at 65 cents each via a direct ...
Will Castor Maritime stock hit $5 once the pandemic ends?
Apr 05, 2021 · Why CTRM stock has dropped The rally in CTRM stock was speculative driven by the short squeeze and exuberance about the company’s outlook. Over the last month, investors have sold stocks of all...
Will Castor Marine stock go up?
Castor Maritime (CTRM) stock forecast 2022-2025 The site suggested that the stock could be a few cents shy of $4.7 in 2024, almost reach $6.5 by 2025, and be closing in on $8.2 a year later. A five year forecast for the stock, meanwhile, suggested it could be touching $9.96 by 2027.Jan 26, 2022
What happened to Caster Maritime?
What happened. Three days ago, dry bulk shipper Castor Maritime ( CTRM 1.68% ) dodged a bullet when declines on the Baltic Dry Index (BDI) pulled down shares of other dry bulk shipping stocks but failed to pull down Castor Maritime along with them.May 28, 2021
Is Castor Maritime a good investment?
The Castor Maritime Inc. stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average.
Is Castor maritime undervalued?
Is Castor Maritime Inc Stock Undervalued? The current Castor Maritime Inc [CTRM] share price is $1.99. The Score for CTRM is 53, which is 6% above its historic median score of 50, and infers lower risk than normal.
Is Castor Maritime a legit company?
We are a growth-oriented global shipping company engaged in the seaborne transportation of a wide range of commodities along worldwide shipping routes through our ownership of dry bulk and tanker vessels.
Did CTRM do a stock split?
CTRM's share count has increased exponentially in the past year, growing by more than 500%. However, with its reverse stock split, the numbers of shares have effectively reduced from around 899.6 million to 90 million. The company has established precedence of continuous dilution in funding its fleet expansion.Jun 16, 2021
Will CEI stock go up?
Based on the algorithm-based CEI price prediction from Wallet Investor as of 22 March, the price of Camber Energy in the near term could rise to $1.14 per share by 4 April 2022. However, the service predicted that the stock could end the year at $0.Mar 22, 2022
Is Castor maritime profitable?
Reports $6.5 Million net profit for the Three Months Ended June 30, 2021 and $7.6 Million net profit for the Six Months Ended June 30, 2021.Aug 5, 2021
Why is OCGN stock down?
Ocugen's OCGN stock declined 3.8% on Tuesday after the FDA placed a clinical hold on a phase II/III immuno-bridging and broadening clinical study on its COVID-19 vaccine, Covaxin.4 days ago
How many ships does Castor Maritime have?
About Castor Maritime Inc. On a fully delivered basis, Castor will own a fleet of 28 vessels, with an aggregate capacity of 2.4 million dwt, consisting of 1 Capesize, 7 Kamsarmax and 11 Panamax dry bulk vessels, as well as 1 Aframax, 6 Aframax/LR2 and 2 MR1 tankers.Dec 7, 2021
Will Ctrm reverse split?
(CTRM) will effect a one-for-ten (1-10) reverse split of its common stock. The reverse stock split will become effective on Friday, May 28, 2021.May 27, 2021
Investors are about to have their ownership stakes significantly diluted
Joe honed his investing skills as an analyst for Stock Advisor, Supernova, and Fool One. He battle-tested his investment philosophy and strategies as portfolio manager of Tier 1, a market-crushing Motley Fool real-money portfolio that delivered 24.58% annualized returns during its existence.
What happened
Shares of Castor Maritime ( NASDAQ:CTRM) plunged on Monday after the shipping company announced the pricing of its latest stock offering. As of 2:10 p.m. EDT, its stock price was down 20%.
So what
Castor Maritime will sell roughly 192.3 million shares to institutional investors at a price of $0.65 per share. The offering will raise about $125 million, before transaction-related expenses. The stock sale is expected to close on Wednesday.
Now what
Castor Maritime's stock price closed at $0.74 on Thursday, so shareholders were likely displeased by both the pricing of the share sale and the substantial dilution of their ownership stakes it will bring about. The offering will increase the company's share count by roughly 27%.
Why CTRM stock has dropped
The rally in CTRM stock was speculative driven by the short squeeze and exuberance about the company’s outlook. Over the last month, investors have sold stocks of all speculative names. This includes the stocks pumped by WallStreetBets as well as SPACs that haven't found a merger target yet.
CTRM stock short interest
According to the most recent filing, CTRM stock’s short interest is only about 1.2 percent, which is low. A possibility of a short squeeze is highly unlikely now with such low short interest. The focus has turned to the company’s fundamentals.
CTRM stock forecast
CTRM is a penny stock and none of the analysts seem to be covering the stock. The stock’s rise this year has largely been fueled by the optimism about the company adding to its fleet. That said, despite the rise this year, CTRM trades below its IPO price.
CTRM stock is cheap but not undervalued
From a valuation perspective, given the fact that the company is expanding and not making many revenues currently, we would look at the asset-based valuation. CTRM is valued at an LTM price-to-book value multiple of 1.85x.
Is CTRM a good penny stock to buy?
Markets are still in love with penny stocks. Add the growth element and CTRM becomes a good proposition to sell to retail investors. However, CTRM’s growth isn't organic but fueled by massive capital raise. Also, it's into a cyclical industry whose outlook is hazy at best.
Castor Maritime stock on Reddit
Castor Maritime stock is popular on Reddit. There's a subreddit with over 16,000 members that are specifically focused on CTRM. A post on subreddit r/pennystocks, which was upvoted over 1,100 times, “predicted” that the stock would hit $1 soon and $5 once the COVID-19 pandemic is over.
CTRM Target Price
CTRM price target in 14 days: 2.533 USD* upside and 2.127 USD* downside. (Highest and lowest possible predicted price in a 14 day period)
Castor Maritime Inc ( CTRM ) Stock Market info
Recommendations: Buy or sell Castor Maritime stock? Wall Street Stock Market & Finance report, prediction for the future: You'll find the Castor Maritime share forecasts, stock quote and buy / sell signals below.
Castor Maritime Inc ( CTRM ) Stock Price Prediction, Stock Forecast for next months and years
Short-term and long-term CTRM (Castor Maritime Inc) stock price predictions may be different due to the different analyzed time series.
What stocks does MarketBeat like better than Castor Maritime?
Wall Street analysts have given Castor Maritime a "N/A" rating, but there may be better buying opportunities in the stock market. Some of MarketBeat's past winning trading ideas have resulted in 5-15% weekly gains. MarketBeat just released five new stock ideas, but Castor Maritime wasn't one of them.
When is Castor Maritime's next earnings date?
Castor Maritime is scheduled to release its next quarterly earnings announcement on Wednesday, November 10th 2021.#N#View our earnings forecast for Castor Maritime.
When did Castor Maritime's stock split? How did Castor Maritime's stock split work?
Shares of Castor Maritime reverse split on Friday, May 28th 2021. The 1-10 reverse split was announced on Friday, May 21st 2021. The number of shares owned by shareholders was adjusted after the closing bell on Thursday, May 27th 2021.
Who are some of Castor Maritime's key competitors?
Some companies that are related to Castor Maritime include Eagle Bulk Shipping (EGLE), Navios Maritime Partners (NMM), TORM (TRMD), Dorian LPG (LPG), Navigator (NVGS), Safe Bulkers (SB), Diana Shipping (DSX), Teekay (TK), Grindrod Shipping (GRIN), Pangaea Logistics Solutions (PANL), Capital Product Partners (CPLP), Overseas Shipholding Group (OSG), Eneti (NETI), Seanergy Maritime (SHIP) and Euroseas (ESEA).#N#View all of CTRM's competitors..
What other stocks do shareholders of Castor Maritime own?
Based on aggregate information from My MarketBeat watchlists, some companies that other Castor Maritime investors own include Ocugen (OCGN), Top Ships (TOPS), BIO-key International (BKYI), Onconova Therapeutics (ONTX), Vislink Technologies (VISL), Biocept (BIOC), Globus Maritime (GLBS), Genius Brands International (GNUS), Purple Biotech (KTOV) and Naked Brand Group (NAKD)..
Who are Castor Maritime's major shareholders?
Castor Maritime's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Renaissance Technologies LLC (1.92%), Morgan Stanley (1.72%), Morgan Stanley (1.72%), Citadel Advisors LLC (0.00%), Paloma Partners Management Co (0.27%) and Deutsche Bank AG (0.22%).
Which major investors are selling Castor Maritime stock?
CTRM stock was sold by a variety of institutional investors in the last quarter, including Renaissance Technologies LLC, Geode Capital Management LLC, Marshall Wace LLP, and Marshall Wace LLP.
Castor Maritime Media Sentiment
Each headline receives a score ranging from 2 (good news) to -2 (bad news). Our company news sentiment scores track the average news sentiment of articles about each company over the most recent 7 days in order to identify companies that are receiving positive press.
Media Coverage
We track news headlines from hundreds of news outlets and tag them by company. This chart compares the number of articles about this company in the last seven days compared with the average number of articles about this company on a typical week.
Castor Maritime (NASDAQ CTRM) News Headlines Today
Sentiment refers to the positivity or negativity of each headline according to our language processing algorithm.
