Torm (NASDAQ:TRMD) Reaches New 12-Month High – Should You Buy?

Torm Plc (NASDAQ:TRMD)’s share price reached a new 52-week high on Wednesday . The company traded as high as $26.65 and last traded at $26.5680, with a volume of 8787 shares traded. The stock had previously closed at $25.82.

Wall Street Analysts Forecast Growth

Separately, Fearnley Fonds raised Torm from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 13th. One research 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 given a Sell rating to the company. Based on data from MarketBeat.com, Torm presently has a consensus rating of “Hold” and an average price target of $23.00.

Torm Stock Up 1.1%

The company has a debt-to-equity ratio of 0.36, a current ratio of 2.37 and a quick ratio of 2.07. The business’s fifty day moving average price is $22.63 and its two-hundred day moving average price is $21.83. The stock has a market capitalization of $2.58 billion, a PE ratio of 10.10 and a beta of 0.04.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TRMD. Vanguard Group Inc. boosted its position in Torm by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 2,341,185 shares of the company’s stock valued at $46,629,000 after buying an additional 11,457 shares during the last quarter. Norges Bank acquired a new stake in Torm during the 2nd quarter valued at approximately $20,998,000. Renaissance Technologies LLC boosted its holdings in shares of Torm by 25.8% in the 4th quarter. Renaissance Technologies LLC now owns 536,425 shares of the company’s stock valued at $10,503,000 after acquiring an additional 110,000 shares during the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of Torm in the second quarter worth $7,523,000. Finally, Lind Value II ApS purchased a new position in shares of Torm during the second quarter worth $7,283,000. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

Torm Company Profile

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.