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Wednesday, October 28, 2020

Castor Maritime Inc. (NASDAQ:CTRM) on the Path to Ruin

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Castor Maritime Inc. (CTRM) shares are trading at lower $0.16.

To add more color to this target, the company’s high over the last year is $4.22 and the low is $0.14. Over the last 52 weeks, CTRM is down -95.24% while the S&P 500 is up 16.45%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, CTRM reported a profit of $1.27 million. Castor Maritime Inc. also saw revenues increase to $2.59 million. In addition, CTRM has free cash flow of -$0.78 million as of 06-2020. The company’s EBITDA came in at $0.66 million which compares well with its peers.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. CTRM has a short ratio of 0.06 and outstanding shares of 131.21M.

Company Outlook

CTRM has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 10.47 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.33. Castor Maritime Inc. CTRM also noted assets of $57.53 million at the end of the last quarter. Investors should also keep an eye on sector updates as CTRM has historically followed its peers on positive news.

All told, Castor Maritime Inc. CTRM has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CTRM represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Castor Maritime Inc. CTRM is now commanding a market cap of 20.99M and a float of 113.83M. CTRM is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of CTRM stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in CTRM, either long or short, and we have not been compensated for this article.

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