Ieq Capital LLC purchased a new stake in Toro Corp. (NASDAQ:TORO – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 171,961 shares of the company’s stock, valued at approximately $16,752,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Group One Trading LLC purchased a new stake in Toro during the third quarter worth about $70,000. Citadel Advisors LLC acquired a new stake in shares of Toro in the third quarter valued at approximately $79,000. Alpine Woods Capital Investors LLC purchased a new position in shares of Toro during the 2nd quarter worth approximately $235,000. Perigon Wealth Management LLC acquired a new position in shares of Toro during the 2nd quarter worth approximately $271,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in Toro in the 2nd quarter valued at approximately $308,000. Institutional investors and hedge funds own 1.74% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. Weiss Ratings downgraded Toro from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 30th. Wall Street Zen raised Toro to a “hold” rating in a research note on Saturday, June 20th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.
Toro Stock Performance
Shares of NASDAQ TORO opened at $6.16 on Friday. Toro Corp. has a 1 year low of $2.64 and a 1 year high of $8.50. The firm’s 50 day moving average price is $5.20 and its 200 day moving average price is $4.71. The firm has a market cap of $132.26 million, a P/E ratio of 154.04 and a beta of 2.53.
Toro (NASDAQ:TORO – Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The company reported ($0.02) earnings per share for the quarter. The business had revenue of $5.96 million during the quarter. Toro had a net margin of 22.67% and a return on equity of 2.49%.
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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