TORM (NASDAQ:TRMD - Get Free Report) was upgraded by investment analysts at Fearnley Fonds from a "hold" rating to a "strong-buy" rating in a research report issued on Tuesday,Zacks.com reports.
A number of other analysts also recently commented on the company. Kepler Capital Markets downgraded TORM from a "hold" rating to a "strong sell" rating in a research report on Thursday, March 27th. Evercore ISI reduced their price target on shares of TORM from $25.00 to $23.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd.
Read Our Latest Research Report on TRMD
TORM Stock Down 2.6 %
Shares of NASDAQ TRMD opened at $16.54 on Tuesday. The stock has a market capitalization of $1.55 billion, a P/E ratio of 2.14 and a beta of 0.12. TORM has a 1 year low of $13.60 and a 1 year high of $40.47. The company has a 50-day moving average price of $16.74 and a 200-day moving average price of $19.70. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24.
Hedge Funds Weigh In On TORM
Several hedge funds have recently made changes to their positions in TRMD. Hsbc Holdings PLC grew its stake in TORM by 49.2% during the fourth quarter. Hsbc Holdings PLC now owns 153,460 shares of the company's stock valued at $2,959,000 after acquiring an additional 50,589 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of TORM in the 4th quarter valued at about $312,000. Franklin Resources Inc. bought a new stake in shares of TORM during the 3rd quarter valued at about $1,047,000. PSI Advisors LLC grew its holdings in shares of TORM by 139.8% during the fourth quarter. PSI Advisors LLC now owns 42,367 shares of the company's stock worth $824,000 after purchasing an additional 24,702 shares in the last quarter. Finally, Arkadios Wealth Advisors bought a new position in shares of TORM in the fourth quarter worth approximately $301,000. 73.89% of the stock is currently owned by hedge funds and other institutional investors.
About TORM
(
Get Free Report)
TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.
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