Home Financial Markets Castor Maritime (CTRM) Stock Sets Sails for A Strong Outlook in 2021

Castor Maritime (CTRM) Stock Sets Sails for A Strong Outlook in 2021

Castor Maritime (NASDAQ: CTRM) converged to a close at $1.00 which is a loss of 1.09%. This is a steep drop from the recent 1-year high of $2.60. For the past 5 trading sessions, it has accumulated a loss of more than 17%. The volume of trade was roughly 78.3 million shares.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Castor Maritime’s history


The 2021 Backdoor Crypto Portfolio (free)

Even if you’re not actively in crypto, you deserve to know what’s actually going on...

Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.

Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.

Sponsored


Castor Maritime is a global shipping company that specifically for bulk dry goods that is based in the land of Cypress (2016). The main dry shipping items that it usually ships out in bulk are minerals and grains. The company started trading on the NASDAQ exchange in 2019 and evolved with a market capitalization of over $560 million.

Read More

Acquisition of new vessel

Castor Maritime on February 18, 2021, announced an acquisition of a vessel, namely a purchase of a Korean-structured Kamsarmax bulk carrier through a third party for a purchase price of $14.8 million. This purchase was done through a 100% owned subsidiary of Castor Maritime. The deal will be completed when the vessel is delivered which is to take place before the end of the first quarter or after its end.

The company has recorded 425.79% gains over the past six months according to the daily chart but it is significantly lower than the latest low trading price by an 800% mark. While analyzing the average trade volume of 174.9 million shares, the CTRM has an active trade volume of 78.3 million on its most recent trading day.

How do investors feel about shipping industry stocks?

The sentiment about stocks like the goods shipping industry is that there is no excitement and thrill of news or technological progress to drastically change the fundamental outlook of their stocks. It does not resemble the growth-potential of the EV industry, nor can it be volatile like cryptocurrency and the news like that of clinical breakthroughs of penny biotech stocks are simply not the factors that will affect this stock.

However, the shipping industry is concentrated at the top while being an underrated sector that does not pass through the radar of most investors. This is exactly the reason that the Castor Maritime is the cream of the crop since its reopening after covid-19, demands have increased due to which the bull for Castor Maritime is highly undervalued.

Castor Maritime Inc (NASDAQ: CTRM) has already made its company’s profile look profitable since 2017 and up till the pandemic hit in 2019. Considering the fact it was founded in 2016, this overwhelming positive growth and sentiment was quick to build up.

Strong Core Foundation and Fundamentals of Castor Maritime

Petros Panagioditis who is the founder of Castor Maritime currently is still instated as the CEO and CFO of the company. The shipping industry’s skill and knowledge were passed down as heritage to the Panagioditis family as the grandfather of Petros, Gabriel Panagioditis is a tycoon in the company who is listed as one of the global billionaires. Similarly, Petros’s sister Ismini has a literally has sister-company that is a global shipping fleet management company that looks after the maintenance of ships.

Both companies have extensive money as well as a wealth of knowledge to back-up their shipping companies in long-term sustainability. The BODs also have in-depth work experience in the Greek shipping business and thus this provides a strong foundation to the operational fundamentals of the company.

Castor Maritime is a strong positive play for 2021

Currently, Castor Maritime has been playing right on foreseeing the market demand after covid-19 recovery to swell. Therefore, it has been acquiring second-hand market vessels since 2020 to expand its fleet and now consists of an impressive 12 ship fleet. The company has still managed to stay mostly debt-free since 2016. Its gross & operating margin is really beating the competitors in the shipping industry by a current value of 33% and 23.7% respectively.

Biden has approved the supply of rare earth metals that are needed in highly finished goods and thus is a source of good news for the mineral shipping companies. Furthermore, the outlook of Castor is phenomenal with the stock surging over 500% in 2021 and still driving its growth. It has maintained a strong balance sheet with relatively minimal debt despite adding 6 new vessels to its collection and is bent on breaking out an impressive Q4 earnings report.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

The company has been gaining a lot of attention as several institutional investors and investment management funds have acquired well over 13 million shares individually. With sentiments of Biden looking to restore America to its former glory of a global economic and trade leader, the opening of trade routes to countries like China seem plausible for the foreseeable future. Once this happens, it will pave the road for Castor Maritime that has been firing up on all cylinders since the revival of the economy after the pandemic.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Why Is BTZI Stock Increasing Today?

The stock price of BOTS, Inc. (OTCPink: BTZI) has been rising more than 7% today and was buoying at $0.1266 at the last check....

Why Has The KBSF Stock Price Gained 10% In Last Session?

As of Friday's normal trading session, the price of KBS Fashion Group Limited (NASDAQ: KBSF) rose $0.26 or 9.96% to conclude at $2.87. KBS...

Why Royal Bank of Canada (RY) stock plummeted in after-hours on Friday?

Royal Bank of Canada (RY) stock lost 64.36% in the extended hour trading session on Friday, April 16, 2021. The RY stock gained merely...

Why Did The CMCL Stock Rise By 8% In Last Trading?

Caledonia Mining Corporation Plc (NYSE: CMCL) gained 8.91% during the trading session on Thursday. The share price reached a low of $13.70 and a...

Why Progyny Inc (PGNY) stock gained on Thursday, April 15?

Progyny Inc (PGNY) stock gained 7.31% in the after-hours session on Thursday, April 15, 2021, after it gained 0.94% in the early session.  PGNY...

Is This Why The APLD Stock Skyrocketed Last Trading?

Applied Science Products, Inc. (OTCPK: APLD) closed at $0.635 and experienced a 215.92% increase on Friday. A total of 2.07M shares of Applied Science...

The CRSS Stock Increased 82% In The Last Session Due To What?

Stock of Crossroads Systems, Inc. (OTCQX: CRSS) gained 81.82% or $18.00 in Friday's trading session, closing the day at $40.00 a share. Crossroads Systems...

How Did The ZVO Stock Appreciate 9% In The Last Trading Session?

Zovio Inc (NASDAQ: ZVO) normally sees about 413.34K shares traded on a regular business day but on a Friday it saw a bit higher...

Related News

Why Did IMCR Stock Go 20% Higher On Wednesday?

In Wednesday’s trading session, Immunocore Holdings plc (NASDAQ: IMCR) increased by 19.70%, closing at $6.5 down from the previous day’s closing price. Shares of...

The BIOL Stock Rocketed 34% Last Day For What Reason?

At the close of business on 04/08/21, stock of the global leader in dental lasers, BIOLASE Inc. (NASDAQ: BIOL) was up 33.86% at $1.02....

Why Did The XELB Stock Rise 54% On Monday?

A rise of 54.40% or $1.05, has been reported in Xcel Brands Inc. (NASDAQ: XELB) for Monday’s trading session. While the Xcel Brands stock...

How Did The Last Trading Bring The SNOA Stock Up 18%?

A share of Sonoma Pharmaceuticals, Inc. (NASDAQ: SNOA) concluded at $8.80 at the close of the previous trading session, increasing 18.44%. The volume of...

The IVAC Stock Rocketed Nearly 32% In Last Trading, Why?

The share price of Intevac Inc. (NASDAQ: IVAC) rose by $1.72 or 31.68% Wednesday on volume of 4.83 million shares to a closing price...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get The Best Stocks To Trade Every Day!...100% Free

We do not sell or share your information with anyone.

Get Best Morning Financial Newsletter... 100% Free

Best stocks ideas

Analysts’ Upgrades & Downgrades

Insider Watchlist

Important Earnings

We do not sell or share your information with anyone.