Toro Corp. (NASDAQ:TORO – Get Free Report) was the target of a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 66,900 shares, a decrease of 17.5% from the May 15th total of 81,100 shares. Based on an average daily volume of 32,400 shares, the days-to-cover ratio is presently 2.1 days.
Institutional Investors Weigh In On Toro
A hedge fund recently bought a new stake in Toro stock. Acadian Asset Management LLC acquired a new position in shares of Toro Corp. (NASDAQ:TORO – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 140,847 shares of the company’s stock, valued at approximately $822,000. Acadian Asset Management LLC owned about 0.78% of Toro at the end of the most recent reporting period. Institutional investors and hedge funds own 1.74% of the company’s stock.
Toro Stock Performance
TORO traded up $0.04 during trading on Monday, reaching $3.95. 14,798 shares of the company traded hands, compared to its average volume of 41,634. Toro has a 12-month low of $3.11 and a 12-month high of $7.25. The firm has a fifty day simple moving average of $4.41 and a 200 day simple moving average of $5.10. The company has a market cap of $74.97 million, a P/E ratio of 1.41 and a beta of 2.10.
About Toro
Toro Corp., a shipping company, acquires, owns, charters, and operates oceangoing tanker vessels and provides seaborne transportation services for crude oil LPG, and refined petroleum products worldwide. The company operates in three segments: Aframax/LR2 Tanker, Handysize Tanker, and LPG Carrier. As of December 31, 2023, it operated a fleet of one Handysize tanker vessel; one Aframax/LR2 vessel; and four LPG carrier vessels with an aggregate cargo carrying capacity of 0.1 million deadweight ton.
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