TORM (NASDAQ:TRMD) Hits New 1-Year High at $15.07

TORM plc (NASDAQ:TRMDGet Rating)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $15.07 and last traded at $14.83, with a volume of 602596 shares changing hands. The stock had previously closed at $13.05.

TRMD has been the subject of several recent analyst reports. HC Wainwright lifted their price target on TORM from $14.00 to $16.00 in a research report on Thursday, May 12th. TheStreet upgraded shares of TORM from a “c” rating to a “b-” rating in a research note on Tuesday, June 7th. Finally, Pareto Securities initiated coverage on shares of TORM in a research report on Wednesday, May 25th. They set a “buy” rating for the company.

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 has a market capitalization of $1.01 billion, a P/E ratio of -96.92 and a beta of -275.17. The business has a fifty day moving average price of $11.99 and a 200-day moving average price of $9.39.

A number of institutional investors have recently modified their holdings of the stock. Swiss National Bank increased its position in TORM by 8.2% during the fourth quarter. Swiss National Bank now owns 53,772 shares of the company’s stock valued at $424,000 after acquiring an additional 4,093 shares during the last quarter. WealthTrust Axiom LLC increased its position in shares of TORM by 16.7% during the 1st quarter. WealthTrust Axiom LLC now owns 35,000 shares of the company’s stock valued at $310,000 after purchasing an additional 5,000 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of TORM by 37.8% in the 4th quarter. Allianz Asset Management GmbH now owns 25,952 shares of the company’s stock worth $205,000 after purchasing an additional 7,121 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of TORM in the fourth quarter worth approximately $77,000. Finally, JPMorgan Chase & Co. bought a new stake in TORM during the first quarter valued at approximately $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.

Read More

Receive News & Ratings for TORM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TORM and related companies with MarketBeat.com's FREE daily email newsletter.