Toro Corp. (NASDAQ:TORO) Sees Large Drop in Short Interest

Key Points

• Toro Corp. (NASDAQ:TORO) experienced a significant 61.3% drop in short interest in September, falling to 15,300 shares from 39,500 shares.
• The company reported earnings of $0.02 EPS and revenue of $4.06 million for the last quarter, with a net margin of 24.65% and a return on equity of 2.46%.
• Weiss Ratings has issued a "sell (d-)" rating for Toro, and overall, the stock holds a consensus rating of "Sell" among analysts.

Toro Corp. (NASDAQ:TORO - Get Free Report) saw a large drop in short interest in September. As of September 30th, there was short interest totaling 15,300 shares, a drop of 61.3% from the September 15th total of 39,500 shares. Based on an average daily volume of 177,600 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.2% of the shares of the company are sold short. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 177,600 shares, the days-to-cover ratio is presently 0.1 days.

Toro Price Performance

Shares of TORO stock opened at $4.09 on Friday. The stock's fifty day simple moving average is $3.23 and its 200 day simple moving average is $2.59. The firm has a market cap of $78.08 million, a price-to-earnings ratio of 204.60 and a beta of 1.31. Toro has a one year low of $1.70 and a one year high of $4.94.

Toro (NASDAQ:TORO - Get Free Report) last announced its quarterly earnings results on Wednesday, October 1st. The company reported $0.02 EPS for the quarter. The business had revenue of $4.06 million for the quarter. Toro had a return on equity of 2.46% and a net margin of 24.65%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Toro in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Sell".

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.

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