TORM plc (NASDAQ:TRMD – Get Rating) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $10.67 and last traded at $10.56, with a volume of 2984 shares. The stock had previously closed at $9.68.
Several analysts recently commented on the company. HC Wainwright assumed coverage on TORM in a research report on Tuesday, April 12th. They issued a “buy” rating and a $14.00 target price on the stock. TheStreet upgraded TORM from a “d+” rating to a “c-” rating in a research report on Thursday, March 3rd.
The company has a current ratio of 1.18, a quick ratio of 1.02 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $773.15 million, a price-to-earnings ratio of -19.56 and a beta of -310.69. The firm has a 50-day moving average of $8.33 and a 200 day moving average of $8.02.
Several hedge funds have recently modified their holdings of the company. Deutsche Bank AG increased its position in shares of TORM by 46.0% during 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 period. Morgan Stanley acquired a new position in shares of TORM during the 2nd quarter valued at $28,000. Swiss National Bank increased its position in shares of TORM by 8.2% during the 4th quarter. Swiss National Bank now owns 53,772 shares of the company’s stock valued at $424,000 after purchasing an additional 4,093 shares during the period. Bank of America Corp DE increased its position in shares of TORM by 33.4% during the 4th quarter. Bank of America Corp DE now owns 24,783 shares of the company’s stock valued at $197,000 after purchasing an additional 6,200 shares during the period. Finally, Allianz Asset Management GmbH increased its position in shares of TORM by 37.8% during the 4th quarter. Allianz Asset Management GmbH now owns 25,952 shares of the company’s stock valued at $205,000 after purchasing an additional 7,121 shares during the period.
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.
- Get a free copy of the StockNews.com research report on TORM (TRMD)
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