Castor Maritime and Toro Push Back Convertible Preferred Share Conversion to 2027

Castor Maritime ( (CTRM) ) has shared an announcement.

On December 23, 2025, Castor Maritime Inc. and Toro Corp. agreed to amend the terms of their cross-held perpetual convertible preferred shares, extending the initial conversion dates of Castor’s 5.00% Series D and Toro’s 1.00% Series A preferred shares by one year to January 1, 2027 and March 7, 2027, respectively. Toro, a Nasdaq-listed company whose chairman and CEO also serves as Castor’s chairman, CEO and CFO, had the amendments negotiated and approved through special committees of disinterested and independent directors at both companies, underscoring an effort to address related-party governance concerns while deferring potential equity conversions and their implications for capital structure and shareholder dilution.

The most recent analyst rating on (CTRM) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Castor Maritime stock, see the CTRM Stock Forecast page.

Spark’s Take on CTRM Stock

According to Spark, TipRanks’ AI Analyst, CTRM is a Neutral.

Castor Maritime’s overall stock score is primarily impacted by its weak financial performance and valuation concerns. While technical analysis shows some positive momentum, the overbought signals and negative profitability metrics weigh heavily on the stock’s attractiveness.

To see Spark’s full report on CTRM stock, click here.

More about Castor Maritime

Castor Maritime Inc. is a Cyprus-based shipping company operating in the maritime transportation sector, with its securities registered in the United States and traded on a U.S. exchange. The company focuses on owning and managing oceangoing vessels, positioning itself within the global seaborne trade and dry bulk/shipping markets.

Average Trading Volume: 54,980

Technical Sentiment Signal: Sell

Current Market Cap: $22.42M

For a thorough assessment of CTRM stock, go to TipRanks’ Stock Analysis page.