TORM (NASDAQ:TRMD) Reaches New 1-Year High at $10.67

TORM plc (NASDAQ:TRMDGet 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.

TORM (NASDAQ:TRMDGet Rating) last posted its earnings results on Wednesday, March 2nd. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. TORM had a negative return on equity of 4.05% and a negative net margin of 6.80%. Equities research analysts predict that TORM plc will post 0.79 EPS for the current fiscal year.

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.

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