Toro (NASDAQ:TORO) Trading Down 0.6% - Time to Sell?

Key Points

• Toro Corp. shares slipped 0.6% on Monday, trading between $4.85 and $4.91 on volume that was about 48% above the daily average.
• Analyst sentiment remains cautious: Wall Street Zen upgraded the stock to Hold, while Weiss Ratings lowered its view to Hold (c-), leaving the consensus rating at Hold.
• The company recently reported a loss of $0.02 per share on $5.96 million in revenue, and it also paid a $0.90 dividend; meanwhile, CEO Petros Panagiotidis bought 67,407 shares in April, adding to heavy insider buying over the last quarter.

Toro Corp. (NASDAQ:TORO - Get Free Report) fell 0.6% on Monday . The stock traded as low as $4.85 and last traded at $4.91. 41,826 shares changed hands during trading, an increase of 48% from the average session volume of 28,192 shares. The stock had previously closed at $4.94.

Analyst Ratings Changes

Several research analysts have recently commented on TORO shares. Wall Street Zen raised Toro to a "hold" rating in a report on Saturday, June 20th. Weiss Ratings cut Toro from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, June 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold".

Toro Stock Performance

The company's 50-day moving average is $5.16 and its 200-day moving average is $4.65. The firm has a market cap of $105.42 million, a price-to-earnings ratio of 122.78 and a beta of 2.55.

Toro (NASDAQ:TORO - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The company reported ($0.02) EPS for the quarter. The company had revenue of $5.96 million for the quarter. Toro had a return on equity of 2.49% and a net margin of 22.67%.

Toro Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, June 5th. Stockholders of record on Monday, May 4th were given a dividend of $0.90 per share. The ex-dividend date was Monday, May 4th.

Insider Activity at Toro

In related news, CEO Petros Panagiotis Panagiotidis purchased 67,407 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was acquired at an average price of $6.79 per share, with a total value of $457,693.53. Following the completion of the acquisition, the chief executive officer directly owned 20,822,206 shares in the company, valued at approximately $141,382,778.74. This trade represents a 0.32% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 2,315,971 shares of company stock worth $14,245,930 over the last quarter.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Group One Trading LLC bought a new position in Toro in the 3rd quarter valued at $70,000. Citadel Advisors LLC acquired a new stake in shares of Toro in the 3rd quarter valued at $79,000. Founders Capital Management raised its position in shares of Toro by 28.6% during the fourth quarter. Founders Capital Management now owns 9,000 shares of the company's stock worth $48,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Toro by 19.2% during the fourth quarter. Renaissance Technologies LLC now owns 186,700 shares of the company's stock worth $986,000 after acquiring an additional 30,100 shares during the last quarter. Institutional investors own 1.74% of the company's stock.

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.

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