Toro (NASDAQ:TORO) Upgraded at Wall Street Zen

Toro (NASDAQ:TORO) was upgraded by equities researchers at Wall Street Zen to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings raised shares of Toro from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Toro Stock Performance

TORO opened at $5.02 on Friday. The stock has a market cap of $107.78 million, a PE ratio of 125.53 and a beta of 2.54. Toro has a 1 year low of $1.95 and a 1 year high of $8.50. The stock’s 50 day simple moving average is $5.26 and its 200-day simple moving average is $4.66.

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

Insiders Place Their Bets

In related news, CEO Petros Panagiotis Panagiotidis acquired 67,407 shares of the firm’s stock in a transaction on Friday, April 24th. The shares were bought at an average cost of $6.79 per share, with a total value of $457,693.53. Following the completion of the acquisition, the chief executive officer owned 20,822,206 shares of the company’s stock, valued at $141,382,778.74. This trade represents a 0.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders purchased 2,315,971 shares of company stock worth $14,245,930 over the last 90 days.

Hedge Funds Weigh In On Toro

Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its position in shares of Toro by 19.2% during the 4th quarter. Renaissance Technologies LLC now owns 186,700 shares of the company’s stock worth $986,000 after buying an additional 30,100 shares during the period. Citadel Advisors LLC bought a new stake in Toro in the third quarter valued at $79,000. Group One Trading LLC bought a new stake in Toro in the third quarter valued at $70,000. Finally, Founders Capital Management raised its stake in Toro by 28.6% during the fourth quarter. Founders Capital Management now owns 9,000 shares of the company’s stock worth $48,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors own 1.74% of the company’s stock.

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.