Torm (NASDAQ:TRMD) Reaches New 12-Month High – Time to Buy?

Torm Plc (NASDAQ:TRMD) shares reached a new 52-week high on Tuesday . The stock traded as high as $27.55 and last traded at $27.4890, with a volume of 102949 shares. The stock had previously closed at $27.27.

Wall Street Analyst Weigh In

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

Torm Price Performance

The firm has a market cap of $2.59 billion, a P/E ratio of 10.14 and a beta of 0.04. The company has a 50-day moving average of $22.77 and a 200 day moving average of $21.91. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.07 and a current ratio of 2.37.

Hedge Funds Weigh In On Torm

Institutional investors have recently modified their holdings of the stock. Virtu Financial LLC boosted its holdings in Torm by 6.7% in the fourth quarter. Virtu Financial LLC now owns 17,170 shares of the company’s stock valued at $336,000 after acquiring an additional 1,076 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Torm by 16.0% in the fourth quarter. Invesco Ltd. now owns 15,106 shares of the company’s stock worth $296,000 after acquiring an additional 2,089 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Torm by 18.8% in the fourth quarter. Mackenzie Financial Corp now owns 54,312 shares of the company’s stock valued at $1,082,000 after buying an additional 8,595 shares in the last quarter. XTX Topco Ltd bought a new position in Torm during the 4th quarter worth about $1,290,000. Finally, Voloridge Investment Management LLC raised its position in Torm by 1,134.7% in the 4th quarter. Voloridge Investment Management LLC now owns 128,792 shares of the company’s stock valued at $2,522,000 after buying an additional 118,361 shares during the last quarter. 73.89% of the stock is owned by institutional investors.

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.