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

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

Analysts Set New Price Targets

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

TORM Stock Up 0.4 %

The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 2.28 and a beta of 0.21. The stock has a fifty day moving average price of $19.93 and a two-hundred day moving average price of $25.78.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TRMD. Assetmark Inc. raised its stake in 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 purchasing an additional 516 shares in the last quarter. Quarry LP acquired a new position in TORM during the third quarter worth about $51,000. Jones Financial Companies Lllp raised its stake in TORM by 49.5% during the fourth quarter. Jones Financial Companies Lllp now owns 5,859 shares of the company’s stock worth $114,000 after acquiring an additional 1,939 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in TORM by 8.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company’s stock worth $175,000 after acquiring an additional 711 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its stake in TORM by 26.1% during the fourth quarter. Apollon Wealth Management LLC now owns 10,719 shares of the company’s stock worth $208,000 after acquiring an additional 2,219 shares in the last quarter. Institutional investors and hedge funds own 73.89% of the company’s stock.

About TORM

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.