With the current price of $0.19, the stock of Castor Maritime Inc. (NASDAQ:CTRM) concluded the trading session seeing its price rise by 0.04 points or at a gain of 28.38% compared to its previous day’s closing price of $0.15. About 33.463 million shares of the stock changed hands on the day. The trading volume of CTRM’s shares during the past session compares with the stock’s average daily trading volume of 12.725 million shares. On the other hand, a float of 5.77 million shares and a weekly performance of 30.14% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $0 for CTRM’s share which suggests that the stock, price of which is currently buoying between $0.149 and $0.2149, is prone to a loss of -100%.
The latest data released on August 14, 2020 shows that the short float in the Castor Maritime Inc.’s stock is trending downward as short interest in CTRM shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the CTRM is currently comprised of 6.56% of the float as the volume of shorted shares declined by -125988 shares. Over the past two weeks, stock’s short interests improved as number of shorted shares reduced to 252834 shares from the previous figure of 378822 shares. Stock’s average intraday volume is now standing at 6.211 million shares which indicate that the days to cover the shorts are nearly 1.
After concluding the day’s trading, price of Castor Maritime Inc. (NASDAQ:CTRM) is up $0.044 over the week and it is -$0.0217 below20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $5.28 that was attained on 09/05/19.
The stock has traded as low as $0.14 in past 52-week, and its current price is 35.71% above from that 52-week low price mark recorded on 08/19/20, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 0. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 45.13 as 14-days RSI of Castor Maritime Inc. This means that the CTRM is currently in a neutral territory and its share’s price movement is likely to be steady for a while. Similarly, the stochastic oscillator is indicating a momentum of 30.46%, implying stock’s share price is buoying in a neutral state.
Technical chart is showing 1st resistance point of $0.2203 for the CTRM’s share while placing it at a 2nd resistance point of $0.2505 to be settled at. But if the stock takes a plunge lower than the 1st support price of $0.1544 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $0.1187.
MACD oscillator is showing a reading of 0.0017 for the stock which means that it is currently in the green zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average, which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.