Torm (NASDAQ:TRMD) Sets New 52-Week High – Should You Buy?

Torm Plc (NASDAQ:TRMD)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $25.95 and last traded at $25.53, with a volume of 461635 shares changing hands. The stock had previously closed at $25.25.

Analyst Ratings Changes

Separately, Fearnley Fonds raised Torm from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $23.00.

Torm Price Performance

The stock’s 50 day moving average price is $21.88 and its 200-day moving average price is $21.49. The company has a quick ratio of 2.07, a current ratio of 2.37 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $2.40 billion, a PE ratio of 9.39 and a beta of 0.04.

Institutional Trading of Torm

A number of large investors have recently modified their holdings of TRMD. Norges Bank bought a new stake in shares of Torm in the 2nd quarter valued at about $20,998,000. Folketrygdfondet bought a new position in shares of Torm during the third quarter valued at approximately $1,796,000. Lind Value II ApS purchased a new position in Torm during the second quarter valued at approximately $7,283,000. Tweedy Browne Co LLC bought a new position in Torm in the second quarter worth approximately $318,000. Finally, Commons Capital LLC purchased a new stake in Torm during the second quarter worth $450,000. Hedge funds and other institutional investors own 73.89% of the company’s stock.

About Torm

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.