Torm (NASDAQ:TRMD) Hits New 1-Year High – Time to Buy?

Torm Plc (NASDAQ:TRMD) shares hit a new 52-week high on Wednesday . The stock traded as high as $26.65 and last traded at $26.5680, with a volume of 8787 shares changing hands. The stock had previously closed at $25.82.

Analyst Upgrades and Downgrades

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

Torm Stock Up 3.2%

The company has a debt-to-equity ratio of 0.36, a current ratio of 2.37 and a quick ratio of 2.07. The company has a fifty day moving average price of $22.25 and a 200 day moving average price of $21.70. The company has a market cap of $2.50 billion, a PE ratio of 9.82 and a beta of 0.04.

Institutional Trading of Torm

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new position in Torm in the third quarter worth $35,000. Tower Research Capital LLC TRC bought a new stake in Torm during the second quarter worth about $46,000. Wexford Capital LP purchased a new position in shares of Torm in the 3rd quarter worth about $120,000. Hilton Head Capital Partners LLC purchased a new position in shares of Torm in the 4th quarter worth about $121,000. Finally, Weaver Consulting Group bought a new position in shares of Torm during the 2nd quarter valued at about $167,000. Hedge funds and other institutional investors own 73.89% of the company’s stock.

About Torm

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.