Toro (NASDAQ:TORO) Stock Price Down 0.2% – Time to Sell?

Toro Corp. (NASDAQ:TORO)’s share price fell 0.2% on Tuesday . The company traded as low as $5.00 and last traded at $5.07. 27,484 shares were traded during mid-day trading, a decline of 73% from the average session volume of 100,283 shares. The stock had previously closed at $5.08.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Toro from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Toro presently has a consensus rating of “Hold”.

Toro Stock Performance

The stock’s 50 day simple moving average is $4.87 and its two-hundred day simple moving average is $4.54. The firm has a market capitalization of $108.85 million, a PE ratio of 126.78 and a beta of 2.54.

Toro (NASDAQ:TORO) last released its earnings results on Thursday, May 28th. The company reported ($0.02) earnings per share for the quarter. Toro had a return on equity of 2.49% and a net margin of 22.67%.The business had revenue of $5.96 million during the quarter.

Toro Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, June 5th. Shareholders of record on Monday, May 4th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Monday, May 4th.

Insiders Place Their Bets

In other Toro news, CEO Petros Panagiotis Panagiotidis bought 1,982,728 shares of the firm’s stock in a transaction on Wednesday, April 22nd. The shares were acquired at an average cost of $6.08 per share, with a total value of $12,054,986.24. Following the purchase, the chief executive officer directly owned 20,488,963 shares of the company’s stock, valued at $124,572,895.04. This trade represents a 10.71% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have purchased 2,315,971 shares of company stock valued at $14,245,930.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its stake in Toro by 19.2% in the 4th quarter. Renaissance Technologies LLC now owns 186,700 shares of the company’s stock worth $986,000 after purchasing an additional 30,100 shares in the last quarter. Citadel Advisors LLC purchased a new position in Toro in the 3rd quarter worth approximately $79,000. Group One Trading LLC purchased a new position in Toro in the 3rd quarter worth approximately $70,000. Finally, Founders Capital Management increased its holdings in shares of Toro by 28.6% during the 4th quarter. Founders Capital Management now owns 9,000 shares of the company’s stock worth $48,000 after buying an additional 2,000 shares during the last quarter. 1.74% of the stock is owned by hedge funds and other 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.