TORM plc (NASDAQ:TRMD) Short Interest Update

TORM plc (NASDAQ:TRMDGet Rating) was the recipient of a large growth in short interest in April. As of April 30th, there was short interest totalling 554,900 shares, a growth of 97.8% from the April 15th total of 280,500 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 276,500 shares, the days-to-cover ratio is presently 2.0 days.

TORM stock opened at $11.59 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.18 and a quick ratio of 1.02. TORM has a 1-year low of $6.17 and a 1-year high of $11.95. The firm has a market capitalization of $860.79 million, a P/E ratio of -21.46 and a beta of -276.34. The company’s 50-day moving average is $9.08 and its 200 day moving average is $8.24.

TORM (NASDAQ:TRMDGet Rating) last posted its quarterly earnings data on Wednesday, March 2nd. The company reported ($0.10) earnings per share for the quarter. The firm had revenue of $189.10 million during the quarter. TORM had a negative return on equity of 4.05% and a negative net margin of 6.80%. Research analysts anticipate that TORM will post 0.79 earnings per share for the current fiscal year.

TRMD has been the topic of several recent research reports. HC Wainwright upped their target price on shares of TORM from $14.00 to $16.00 in a research report on Thursday. TheStreet raised shares of TORM from a “d+” rating to a “c-” rating in a research report on Thursday, March 3rd.

A number of hedge funds have recently modified their holdings of TRMD. Morgan Stanley bought a new position in TORM in the 2nd quarter worth about $28,000. Deutsche Bank AG grew its stake in TORM by 46.0% in the 3rd quarter. Deutsche Bank AG now owns 4,048 shares of the company’s stock worth $31,000 after acquiring an additional 1,275 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in TORM in the 4th quarter worth about $77,000. Two Sigma Investments LP bought a new position in TORM in the 3rd quarter worth about $89,000. Finally, JPMorgan Chase & Co. bought a new position in TORM in the 1st quarter worth about $103,000.

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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