Short Interest in Toro Corp. (NASDAQ:TORO) Drops By 28.9%

Toro Corp. (NASDAQ:TORO) was the recipient of a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 65,600 shares, a drop of 28.9% from the December 31st total of 92,300 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily volume of 48,900 shares, the short-interest ratio is currently 1.3 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Toro stock. Renaissance Technologies LLC boosted its position in shares of Toro Corp. (NASDAQ:TORO) by 13.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,659 shares of the company’s stock after buying an additional 9,459 shares during the period. Renaissance Technologies LLC owned approximately 0.41% of Toro worth $311,000 as of its most recent SEC filing. Institutional investors and hedge funds own 1.74% of the company’s stock.

Toro Stock Performance

TORO remained flat at $2.88 on Friday. The company had a trading volume of 10,453 shares, compared to its average volume of 33,414. The firm has a 50 day simple moving average of $2.85 and a 200 day simple moving average of $3.18. Toro has a 52 week low of $2.25 and a 52 week high of $6.45. The company has a market capitalization of $54.66 million, a price-to-earnings ratio of 2.72 and a beta of 1.24.

Toro (NASDAQ:TORO) last released its earnings results on Tuesday, November 12th. The company reported ($0.01) EPS for the quarter. Toro had a return on equity of 17.16% and a net margin of 176.49%. The company had revenue of $5.32 million during the quarter.

Toro Company Profile

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.