Torm Plc (NASDAQ:TRMD – Get Free Report) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totaling 981,779 shares, a growth of 49.7% from the July 15th total of 655,620 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily volume of 421,472 shares, the days-to-cover ratio is presently 2.3 days.
Torm Stock Up 3.0%
Shares of Torm stock traded up $0.90 during trading on Wednesday, hitting $31.10. 284,952 shares of the stock traded hands, compared to its average volume of 770,474. The stock has a market cap of $3.17 billion, a P/E ratio of 9.13 and a beta of 0.09. The company has a fifty day moving average price of $29.09 and a two-hundred day moving average price of $28.88. Torm has a twelve month low of $19.30 and a twelve month high of $35.33. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 1.40.
Analyst Upgrades and Downgrades
TRMD has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Torm from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Torm in a research note on Wednesday, July 15th. Pareto Securities cut shares of Torm from a “hold” rating to a “hold” rating in a report on Wednesday, May 13th. Finally, Evercore restated an “outperform” rating and set a $37.00 price target on shares of Torm in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.
Institutional Trading of Torm
Institutional investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of Torm during the 3rd quarter worth $35,000. Tower Research Capital LLC TRC bought a new stake in shares of Torm during the 2nd quarter worth about $46,000. Optiver Holding B.V. acquired a new position in shares of Torm during the 1st quarter valued at about $67,000. Wexford Capital LP bought a new position in shares of Torm in the 3rd quarter valued at approximately $120,000. Finally, Hilton Head Capital Partners LLC bought a new stake in Torm during the fourth quarter worth approximately $121,000. 73.89% of the stock is currently owned by institutional investors and hedge funds.
Torm Company Profile
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.
See Also
- Five stocks we like better than Torm
- Datavault AI Locks Down CyberCatch in $94M Security Rollup
- Quantum Stocks Are Starting to Choose Sides: Should Investors Do the Same?
- AeroVironment Hit a Bottom in Q2—Can It Take Flight in Q3?
- The Pre-IPO Playbook: How to Cash in on Anthropic Before the Bell
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.
