Danske Lowers TORM (NASDAQ:TRMD) to Hold

TORM (NASDAQ:TRMD – Get Rating) was downgraded by stock analysts at Danske from a “buy” rating to a “hold” rating in a research report issued on Friday, The Fly reports.

TORM Stock Performance

TRMD opened at $32.49 on Friday. TORM has a 52-week low of $7.66 and a 52-week high of $36.60. The firm has a market capitalization of $2.65 billion, a PE ratio of 8.20 and a beta of 0.45. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.72 and a current ratio of 3.06. The business’s 50-day simple moving average is $29.55 and its 200 day simple moving average is $26.65.

Institutional Trading of TORM

Several institutional investors and hedge funds have recently bought and sold shares of the business. Credit Suisse AG raised its stake in TORM by 1.7% in the fourth quarter. Credit Suisse AG now owns 22,583 shares of the company’s stock valued at $4,480,000 after buying an additional 377 shares during the period. PDT Partners LLC raised its stake in TORM by 1.5% in the third quarter. PDT Partners LLC now owns 54,384 shares of the company’s stock valued at $1,106,000 after buying an additional 781 shares during the period. Advisor Group Holdings Inc. raised its stake in TORM by 58.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 2,405 shares of the company’s stock valued at $71,000 after buying an additional 889 shares during the period. Deutsche Bank AG raised its stake in TORM by 10.5% in the fourth quarter. Deutsche Bank AG now owns 15,998 shares of the company’s stock valued at $467,000 after buying an additional 1,515 shares during the period. Finally, Swiss National Bank increased its stake in shares of TORM by 2.4% during the fourth quarter. Swiss National Bank now owns 69,563 shares of the company’s stock worth $1,984,000 after purchasing an additional 1,606 shares during the period. Institutional investors own 77.29% of the company’s stock.

About TORM

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TORM Plc engages in the ownership and operation of product tankers. The firm transports refined oil products such as gasoline, jet fuel, kerosene, naphtha and gas oil, and occasionally dirty petroleum products, such as fuel oil. The company was founded by Ditlev E. Torm and Christian Schmiegelow in 1889 and is headquartered in London, the United Kingdom.