TORM (NASDAQ:TRMD) Shares Gap Down to $8.75

TORM plc (NASDAQ:TRMD) shares gapped down before the market opened on Thursday . The stock had previously closed at $8.75, but opened at $8.50. TORM shares last traded at $8.52, with a volume of 1,520 shares traded.

The stock has a 50-day simple moving average of $7.88 and a 200 day simple moving average of $8.09. The company has a current ratio of 0.95, a quick ratio of 0.79 and a debt-to-equity ratio of 0.82. The company has a market cap of $611.24 million, a price-to-earnings ratio of -8.48 and a beta of -340.62.

TORM (NASDAQ:TRMD) last released its quarterly earnings data on Wednesday, November 10th. The company reported ($0.19) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.03). The company had revenue of $155.50 million for the quarter. TORM had a negative net margin of 13.80% and a negative return on equity of 7.18%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRMD. Bank of New York Mellon Corp raised its stake in shares of TORM by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 818,776 shares of the company’s stock valued at $7,213,000 after buying an additional 13,324 shares during the last quarter. AXA S.A. purchased a new position in shares of TORM during the 2nd quarter valued at about $256,000. Renaissance Technologies LLC raised its stake in shares of TORM by 147.0% during the 2nd quarter. Renaissance Technologies LLC now owns 46,800 shares of the company’s stock valued at $412,000 after buying an additional 27,854 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of TORM by 47.5% in the 2nd quarter. Allianz Asset Management GmbH now owns 58,445 shares of the company’s stock valued at $517,000 after purchasing an additional 18,831 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of TORM in the 2nd quarter valued at about $991,000. Institutional investors and hedge funds own 77.10% of the company’s stock.

TORM Company Profile (NASDAQ:TRMD)

TORM Plc engages in the ownership and operation of product tankers. The firm transports refined oil products such as gasoline, jet fuel, kerosene, naphtha and gas oil, and occasionally dirty petroleum products, such as fuel oil. The company was founded by Ditlev E. Torm and Christian Schmiegelow in 1889 and is headquartered in London, the United Kingdom.

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