TORM (NASDAQ:TRMD) Receives New Coverage from Analysts at Pareto Securities

Pareto Securities initiated coverage on shares of TORM (NASDAQ:TRMDGet Rating) in a report published on Wednesday, The Fly reports. The firm issued a buy rating on the stock.

A number of other equities analysts have also commented on the stock. TheStreet raised shares of TORM from a d+ rating to a c- rating in a report on Thursday, March 3rd. HC Wainwright upped their price objective on shares of TORM from $14.00 to $16.00 in a research note on Thursday, May 12th.

TORM stock opened at $14.19 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.34 and a current ratio of 1.61. The stock has a market cap of $1.05 billion, a PE ratio of -101.35 and a beta of -276.34. TORM has a fifty-two week low of $6.17 and a fifty-two week high of $14.57. The firm’s 50-day simple moving average is $10.27 and its 200 day simple moving average is $8.63.

TORM (NASDAQ:TRMDGet Rating) last announced its quarterly earnings results on Wednesday, March 2nd. The company reported ($0.10) EPS for the quarter. The business had revenue of $189.10 million for the quarter. TORM had a negative net margin of 1.48% and a negative return on equity of 0.98%. As a group, analysts predict that TORM will post 2.82 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Deutsche Bank AG increased its stake in TORM by 46.0% during the 3rd quarter. Deutsche Bank AG now owns 4,048 shares of the company’s stock valued at $31,000 after purchasing an additional 1,275 shares in the last quarter. Morgan Stanley purchased a new position in shares of TORM in the second quarter worth approximately $28,000. Swiss National Bank lifted its holdings in TORM by 8.2% during the fourth quarter. Swiss National Bank now owns 53,772 shares of the company’s stock valued at $424,000 after purchasing an additional 4,093 shares in the last quarter. WealthTrust Axiom LLC lifted its holdings in TORM by 16.7% during the first quarter. WealthTrust Axiom LLC now owns 35,000 shares of the company’s stock valued at $310,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in TORM by 33.4% during the fourth quarter. Bank of America Corp DE now owns 24,783 shares of the company’s stock valued at $197,000 after purchasing an additional 6,200 shares in the last quarter.

About TORM (Get Rating)

TORM plc, a product tanker company, engages in the transportation of refined oil products and crude oil worldwide. The company transports gasoline, jet fuel, and naphtha. As of March 23, 2022, it operated a fleet of approximately 85 vessels. The company was founded in 1889 and is headquartered in London, the United Kingdom.

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