5 High Growth Penny Stocks that are Profitable

3. Castor Maritime Inc. (NASDAQ:CTRM)

Q/Q Sales Growth: 168%

Number of Hedge Fund Holders in Q4 2022: 4

Castor Maritime Inc. (NASDAQ:CTRM) is an industrial company that ships products globally. It has close to 30 ships in its portfolio, and ships dry bulk cargo, crude oil, and refined petroleum products. The firm is based in Limassol, Cyprus.

Castor Maritime Inc. (NASDAQ:CTRM), like other oil shipping companies, had a great time in 2022. Its third quarter ending in September 2022 saw the firm grow revenue by a whopping 168% annually, and at the same time, profits more than doubled from $23 million to $85 million. Insider Monkey dug through 943 hedge fund holdings for 2022’s fourth quarter to determine that four had bought the firm’s shares.

Out of these, Israel Englander’s Millennium Management is Castor Maritime Inc. (NASDAQ:CTRM)’s largest investor with a $550,000 stake that comes via 490,683 shares.

Follow Castor Maritime Inc.