Toro (NASDAQ:TORO) Stock Price Up 2.4% – Still a Buy?

Toro Corp. (NASDAQ:TORO)’s share price was up 2.4% on Tuesday . The stock traded as high as $3.85 and last traded at $3.85. Approximately 34,320 shares were traded during trading, a decline of 71% from the average daily volume of 117,502 shares. The stock had previously closed at $3.76.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Toro in a research note on Monday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Toro has a consensus rating of “Sell”.

Toro Price Performance

The stock has a market capitalization of $82.67 million, a P/E ratio of 192.60 and a beta of 1.32. The stock’s 50-day simple moving average is $3.76 and its 200 day simple moving average is $2.94.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Toro stock. Citadel Advisors LLC acquired a new position in shares of Toro Corp. (NASDAQ:TORO) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 25,388 shares of the company’s stock, valued at approximately $79,000. Citadel Advisors LLC owned about 0.13% of Toro as of its most recent SEC filing. 1.74% of the stock is owned by institutional investors.

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.