Short Interest in Toro Corp. (NASDAQ:TORO) Expands By 53.3%

Toro Corp. (NASDAQ:TORO) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 63,000 shares, a growth of 53.3% from the October 15th total of 41,100 shares. Based on an average daily volume of 34,700 shares, the short-interest ratio is presently 1.8 days. Currently, 0.7% of the shares of the company are short sold.

Hedge Funds Weigh In On Toro

An institutional investor recently raised its position in Toro stock. Renaissance Technologies LLC boosted its stake in shares of Toro Corp. (NASDAQ:TORO) by 13.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 77,659 shares of the company’s stock after acquiring an additional 9,459 shares during the period. Renaissance Technologies LLC owned about 0.41% of Toro worth $311,000 at the end of the most recent quarter. Institutional investors and hedge funds own 1.74% of the company’s stock.

Toro Price Performance

TORO stock traded down $0.12 during trading on Friday, hitting $2.54. 45,339 shares of the company traded hands, compared to its average volume of 38,135. Toro has a 1 year low of $2.50 and a 1 year high of $6.45. The company has a market cap of $48.20 million, a PE ratio of 2.40 and a beta of 2.03. The stock’s 50-day simple moving average is $3.27 and its 200 day simple moving average is $3.70.

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.