Toro Corp. (NASDAQ:TORO) Sees Significant Growth in Short Interest

Toro Corp. (NASDAQ:TORO) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 85,300 shares, an increase of 25.1% from the November 30th total of 68,200 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily volume of 46,200 shares, the days-to-cover ratio is currently 1.8 days.

Toro Stock Down 1.4 %

TORO traded down $0.04 during trading on Friday, hitting $2.84. 34,970 shares of the stock were exchanged, compared to its average volume of 40,678. Toro has a 1-year low of $2.25 and a 1-year high of $6.45. The stock has a fifty day moving average price of $2.85 and a two-hundred day moving average price of $3.33. The firm has a market capitalization of $53.90 million, a P/E ratio of 2.68 and a beta of 1.55.

Hedge Funds Weigh In On Toro

An institutional investor recently raised its position in Toro stock. Renaissance Technologies LLC raised its holdings in Toro Corp. (NASDAQ:TORO) by 13.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 77,659 shares of the company’s stock after purchasing an additional 9,459 shares during the quarter. Renaissance Technologies LLC owned about 0.41% of Toro worth $311,000 as of its most recent filing with the SEC. 1.74% of the stock is currently owned by hedge funds and other institutional investors.

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.