Toro (NASDAQ:TORO) Stock Price Up 0.9% – What’s Next?

Toro Corp. (NASDAQ:TORO) shot up 0.9% during trading on Monday . The stock traded as high as $3.37 and last traded at $3.25. 17,344 shares traded hands during trading, a decline of 57% from the average session volume of 40,448 shares. The stock had previously closed at $3.22.

Toro Price Performance

The company has a 50 day simple moving average of $2.81 and a 200-day simple moving average of $3.22. The stock has a market cap of $58.65 million, a P/E ratio of 2.92 and a beta of 1.24.

Toro (NASDAQ:TORO) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.01) EPS for the quarter. The business had revenue of $5.32 million for the quarter. Toro had a return on equity of 17.16% and a net margin of 176.49%.

Institutional Trading of Toro

An institutional investor recently raised its position in Toro stock. Renaissance Technologies LLC lifted its stake in Toro Corp. (NASDAQ:TORO) by 13.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,659 shares of the company’s stock after purchasing an additional 9,459 shares during the period. Renaissance Technologies LLC owned 0.41% of Toro worth $311,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.