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

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

TORM Trading Down 0.6 %

Shares of NASDAQ:TRMD traded down $0.10 on Thursday, hitting $16.87. The company had a trading volume of 769,958 shares, compared to its average volume of 954,701. The firm’s 50-day simple moving average is $18.98 and its two-hundred day simple moving average is $23.24. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 2.18 and a beta of 0.14. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51. TORM has a 1 year low of $16.58 and a 1 year high of $40.47.

Institutional Investors Weigh In On TORM

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of TORM by 0.6% during the third quarter. Geode Capital Management LLC now owns 81,626 shares of the company’s stock valued at $2,791,000 after acquiring an additional 505 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in TORM by 8.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company’s stock valued at $175,000 after purchasing an additional 711 shares in the last quarter. Quarry LP bought a new stake in TORM during the 3rd quarter valued at about $51,000. NewEdge Advisors LLC raised its holdings in TORM by 16.4% in the fourth quarter. NewEdge Advisors LLC now owns 11,964 shares of the company’s stock worth $233,000 after buying an additional 1,685 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted 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 worth $114,000 after buying an additional 1,939 shares in the last quarter. Institutional investors 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.