Castor Maritime Inc. (NASDAQ: CTRM) shares were up 26.55% to $0.67 in Wednesday’s post-closing hours. A 52-week chart of prices, including low and high prices, can tell a lot about the stock’s current status and its future performance. The shares of Castor Maritime Inc. are presently down -79.56% from their 52-week high and 373.29% from their lowest price for that timeframe. During the 52 weeks, the stock’s performance ranged between $0.11 and $2.60.
Castor Maritime Inc. owns dry bulk vessels and provides shipping transportation services internationally. In its business, the Company’s vessels transport dry bulk cargoes throughout the world, such as coal, grain, and other materials.
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Recently announced Developments
January 22, 2021, NASDAQ-listed Castor Maritime Inc. (NASDAQ: CTRM) announced closing a term loan facility for $15.3 million, secured by two of its vessels. A reputable European financial institution provided the facility. It is expected that the $15.3 Million Financing will be drawn down by the end of the month. The Company intends to use the Net Proceeds for its growth plans.
This $15.3 million loan is subject to a four-year term and bears interest at 6.5% plus LIBOR per annum.
2-days before this announcement on January 20, 2021, the Company revealed that it has entered into a purchase agreement with an unaffiliated third-party seller for a 2006 Japan-built Capesize dry bulk carrier for the purchase price of $17.5 million.
After completing its scheduled dry-docking and unique survey that includes its installation of a ballast water treatment system, the vessel will be delivered to the buyer sometime in the second quarter or by the end of the first quarter of this year. However, certain closing conditions must be satisfied first.
Some traders think that trading activity in the past and price movements can be valuable indicators of a security’s future price movements. At the time of writing, Castor Maritime Inc. (NASDAQ: CTRM) shares were trading at $0.3054 and were -79.56% off their 52-week high. It is currently trading at a distance of 373.29% from its 52-week low. There are 50 and 200-day simple moving averages for the closing price of $0.2200, respectively. In the past month, volatility decreased to 21.93% from 27.87% a week ago. Additionally, the relative strength index (RSI) of the stock stands at 74.56, which indicates overbought conditions.