TORM (NASDAQ:TRMD) Sets New 12-Month High at $14.40

Shares of TORM plc (NASDAQ:TRMDGet Rating) hit a new 52-week high during trading on Wednesday . The company traded as high as $14.40 and last traded at $14.20, with a volume of 12494 shares traded. The stock had previously closed at $13.18.

Several equities analysts have issued reports on the stock. TheStreet upgraded shares of TORM from a “d+” rating to a “c-” rating in a research note on Thursday, March 3rd. Pareto Securities began coverage on shares of TORM in a research note on Wednesday. They set a “buy” rating for the company. Finally, HC Wainwright increased their target price on shares of TORM from $14.00 to $16.00 in a research note on Thursday, May 12th.

The company has a quick ratio of 1.34, a current ratio of 1.61 and a debt-to-equity ratio of 0.87. The stock’s fifty day simple moving average is $9.92 and its 200-day simple moving average is $8.52. The company has a market capitalization of $1.06 billion, a PE ratio of -102.28 and a beta of -276.34.

TORM (NASDAQ:TRMDGet Rating) last issued its quarterly earnings data on Wednesday, March 2nd. The company reported ($0.10) earnings per share for the quarter. TORM had a negative return on equity of 0.98% and a negative net margin of 1.48%. The business had revenue of $189.10 million for the quarter. Analysts expect that TORM plc will post 2.82 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Morgan Stanley acquired a new position in shares of TORM in the 2nd quarter valued at $28,000. Deutsche Bank AG boosted its holdings in shares of TORM by 46.0% in the 3rd quarter. Deutsche Bank AG now owns 4,048 shares of the company’s stock valued at $31,000 after purchasing an additional 1,275 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of TORM in the 4th quarter valued at $77,000. Two Sigma Investments LP purchased a new position in shares of TORM in the 3rd quarter valued at $89,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of TORM in the 1st quarter valued at $103,000.

TORM Company Profile (NASDAQ:TRMD)

TORM plc, a product tanker company, engages in the transportation of refined oil products and crude oil worldwide. The company transports gasoline, jet fuel, and naphtha. As of March 23, 2022, it operated a fleet of approximately 85 vessels. The company was founded in 1889 and is headquartered in London, the United Kingdom.

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