TORM (NASDAQ:TRMD) Reaches New 52-Week Low – What’s Next?

TORM plc (NASDAQ:TRMD) shares hit a new 52-week low on Thursday . The stock traded as low as $17.58 and last traded at $17.24, with a volume of 768857 shares. The stock had previously closed at $18.81.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group decreased their price target on shares of TORM from $37.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, November 14th.

TORM Stock Up 0.4 %

The company has a market capitalization of $1.65 billion, a P/E ratio of 2.28 and a beta of 0.21. The firm’s 50 day moving average price is $19.93 and its two-hundred day moving average price is $25.78. The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51.

Hedge Funds Weigh In On TORM

Several hedge funds have recently made changes to their positions in TRMD. Assetmark Inc. grew its stake in shares of TORM by 76.9% in the third quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock valued at $41,000 after buying an additional 516 shares in the last quarter. Quarry LP bought a new position in shares of TORM in the third quarter valued at $51,000. Jones Financial Companies Lllp grew its stake in shares of TORM by 49.5% in the fourth quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company’s stock valued at $114,000 after buying an additional 1,939 shares in the last quarter. Thrivent Financial for Lutherans bought a new position in shares of TORM in the third quarter valued at $224,000. Finally, Apollon Wealth Management LLC bought a new position in shares of TORM in the third quarter valued at $291,000. 73.89% of the stock is owned by institutional investors.

TORM Company Profile

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.