TORM (NASDAQ:TRMD) Reaches New 1-Year Low – Here’s Why

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

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reduced 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 Performance

The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 2.27 and a beta of 0.21. The firm has a fifty day simple moving average of $19.95 and a 200-day simple moving average of $25.98.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TRMD. International Assets Investment Management LLC bought a new position in TORM during the 3rd quarter worth $7,359,000. DekaBank Deutsche Girozentrale raised its position in shares of TORM by 1,166.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 38,000 shares of the company’s stock worth $1,289,000 after acquiring an additional 35,000 shares in the last quarter. US Bancorp DE lifted its position in shares of TORM by 32,389.7% during the 3rd quarter. US Bancorp DE now owns 9,422 shares of the company’s stock valued at $322,000 after acquiring an additional 9,393 shares during the period. CWA Asset Management Group LLC acquired a new position in TORM during the 3rd quarter worth approximately $1,238,000. Finally, Assetmark Inc. grew its holdings in shares of TORM by 76.9% during 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 during the last quarter. 73.89% of the stock is currently 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.