Torm (NASDAQ:TRMD) Hits New 1-Year High – Here’s What Happened

Torm Plc (NASDAQ:TRMD)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $25.95 and last traded at $25.53, with a volume of 461635 shares changing hands. The stock had previously closed at $25.25.

Analyst Upgrades and Downgrades

Separately, Fearnley Fonds upgraded Torm from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Torm currently has an average rating of “Hold” and a consensus price target of $23.00.

Torm Price Performance

The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 9.39 and a beta of 0.04. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.07 and a current ratio of 2.37. The stock’s 50 day simple moving average is $21.88 and its 200-day simple moving average is $21.49.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TRMD. Swiss National Bank grew its stake in Torm by 2.3% during the 4th quarter. Swiss National Bank now owns 116,371 shares of the company’s stock valued at $2,319,000 after acquiring an additional 2,611 shares in the last quarter. Kovack Advisors Inc. grew its position in shares of Torm by 198.5% in the fourth quarter. Kovack Advisors Inc. now owns 31,820 shares of the company’s stock valued at $623,000 after purchasing an additional 21,161 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Torm by 3.5% in the fourth quarter. Deutsche Bank AG now owns 148,793 shares of the company’s stock valued at $2,913,000 after purchasing an additional 4,975 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Torm by 19.7% in the fourth quarter. LPL Financial LLC now owns 27,830 shares of the company’s stock valued at $545,000 after purchasing an additional 4,583 shares during the last quarter. Finally, Hilton Head Capital Partners LLC purchased a new position in Torm during the fourth quarter worth approximately $121,000. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

Torm Company Profile

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.