Kepler Capital Markets Downgrades TORM (NASDAQ:TRMD) to Strong Sell

TORM (NASDAQ:TRMD) was downgraded by stock analysts at Kepler Capital Markets from a “hold” rating to a “strong sell” rating in a report issued on Thursday,Zacks.com reports.

TORM Stock Performance

Shares of TRMD stock traded down $0.10 during trading hours on Thursday, reaching $16.87. The company had a trading volume of 769,958 shares, compared to its average volume of 954,701. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47. The business has a fifty day moving average price of $18.98 and a 200-day moving average price of $23.24. TORM has a one year low of $16.58 and a one year high of $40.47. The firm has a market cap of $1.59 billion, a PE ratio of 2.18 and a beta of 0.14.

Hedge Funds Weigh In On TORM

Institutional investors and hedge funds have recently modified their holdings of the company. Centiva Capital LP bought a new position in TORM in the third quarter valued at about $3,077,000. Exchange Traded Concepts LLC bought a new position in shares of TORM in the 4th quarter worth approximately $312,000. Franklin Resources Inc. purchased a new position in shares of TORM in the third quarter worth approximately $1,047,000. PSI Advisors LLC grew its position in TORM by 139.8% during the fourth quarter. PSI Advisors LLC now owns 42,367 shares of the company’s stock valued at $824,000 after buying an additional 24,702 shares during the period. Finally, Arkadios Wealth Advisors purchased a new stake in TORM during the fourth quarter valued at approximately $301,000. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

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.