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Castor Maritime (CTRM) stock price forecast for 2022 and beyond
This page includes the latest Castor Maritime stock price forecasts for the coming years. We have rounded up the most prominent analyst forecasts for CTRM stock to help you time your investment into it. Read on, to learn how its stock is expected to perform for the next decade.
CTRM stock forecast & price target
There is no consensus on the future price of Castor Maritime. It’s a fairly new company and only started trading on the stock market in 2019. It’s classed as a penny stock and trades below $5. There are very few analyst CTRM stock price forecasts and most expect its shares to change very little.
This guide includes forecasts that were available, although not many go beyond the next few months. The table below shows the highest, lowest, and average Castor Maritime price predictions. Keep scrolling for year specific information.
|Stock||Average price target||Highest target||Lowest target||Majority guidance|
|Castor Maritime (NASDAQ: CTRM||$1.75||$2.50||$1.00||None|
Expert forecasts on the future of Castor Maritime (CTRM)
Not enough experts have provided forecasts on the future of Castor Maritime. As previously mentioned it’s a new company and its stock trades below $5 a share. Expert analysts tend to not provide forecasts for smaller companies like Castor Maritime.
Short term CTRM forecast
In the short term, it is expected that CTRM will range between $1 – $2.20 where it has been trading since the tail end of 2021. Some forecasts expect $1 to act as a support level and anticipate a bounce higher, although others suggest $1 will be broken and its price will continue to sell lower. Below are CTRM stock price forecasts for the next few years.
Castor Maritime stock price prediction 2022
Castor Maritime is forecast to be worth $1.50 in 2022. That price is roughly halfway between its highest and lowest predictions for the year.
Castor Maritime stock price prediction 2023
In 2023 the most optimistic prediction expects a CTRM share price of $2.50. However pessimistic forecasts envisage its stock price to have fallen well below the $1 price.
Long term CTRM forecast
There are no long term price forecasts for Castor Maritime stock. Buying shares in the company is best suited to investors or traders with a near term outlook. Its low share price provides a lot of volatility which traders can use to their advantage. There are many other low priced stocks like Sundial Growers which analysts have provided forecasts for.
Castor Maritime price prediction 2024
In 2024 it should be expected that CTRM will be worth between $1.50 – $2.20. No analysts have given forecasts for 2024 and beyond.
Castor Maritime price prediction 2025
Castor Maritimes stock price forecast for 2025 is expected to remain within the range of $1.50 – $2.20. Its share price is volatile and moves quickly at times, so this predicted price range could change if the company improves.
Castor Maritime price prediction 2030
There are no analyst forecasts for Castor Maritime stock for 2030. Giving an accurate prediction this far into the future for a new and small company is difficult.
Compare the best places to buy Castor Maritime stock
If you want to buy shares in Castor Maritime and take advantage of its volatile and rapid movements then you’ll need to register with an online broker. You can use any platform in the table below and it takes just a few minutes to sign up.
What affects the price of CTRM?
Castor Maritime is a shipping company and the amount of cargo it transports impacts its revenue, which ultimately affects its share price. There are also a range of other factors that can move its stock and below we’ve included a few of the main ones.
- Revenue. The amount of money Castor Maritime generates from its shipping activities plays an important role in how its stock trades. Its revenues have been growing and in 2021 jumped significantly from the year prior. Staying up to date with its quarterly earnings reports is a good way to track its overall performance.
- Available days. This is a term used in shipping to describe the number of days a ship is available and not out of action due to repairs or surveys. Higher overall available days is a positive indicator that Castor Maritime can continue shipping cargo without spending money for idle vessels.
- Fuel costs. The cost of fuel can impact shipping costs. When prices are on the rise, Castor Maritime either has to take the hit, or pass it on to its customers. Rising fuel prices result in it costing more to run a ship than if prices are low. Keeping tabs on fuel prices is a good way to anticipate its future share price.
- Acquisitions. To increase the size of its fleet, Castor Maritime can either build new ships or acquire them. For a quick turnaround it is usually easier to acquire more ships rather than building them. The company has increased its fleet recently and if it continues to do so, it may have a positive impact on its share price.
How has the Castor Maritime price changed over time?
Since it came to the stock market in 2019 its share price has been sinking and now trades under the $5 mark, making it a penny stock. In 2021 it announced a 1-for-10 reverse stock split. This meant that 10 shares were grouped together into 1, resulting in a higher price. The split appears to not have worked so well for CTRM and in 2021 it hit the $1 a share level.
What should I do now?
Although there are not many forecasts for CTRM’s share price, its volatility provides some opportunity to invest. If you do decide to invest you’ll need to use an online broker. Alternatively, you can visit our investing hub where you can learn more about the stock market and investing.
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Fact-checking & references
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