Short Interest in TORM plc (NASDAQ:TRMD) Expands By 22.4%

TORM plc (NASDAQ:TRMD) was the target of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 5,470,000 shares, an increase of 22.4% from the January 31st total of 4,470,000 shares. Based on an average trading volume of 1,200,000 shares, the short-interest ratio is currently 4.6 days. Currently, 10.3% of the company’s stock are short sold.

TORM Trading Down 1.5 %

Shares of NASDAQ:TRMD opened at $17.35 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.24 and a current ratio of 2.47. The stock’s 50-day moving average is $19.81 and its 200-day moving average is $25.28. The company has a market cap of $1.63 billion, a P/E ratio of 2.24 and a beta of 0.14. TORM has a 52-week low of $16.76 and a 52-week high of $40.47.

TORM (NASDAQ:TRMD) last released its earnings results on Thursday, March 6th. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.06). TORM had a net margin of 43.81% and a return on equity of 34.45%. Equities research analysts predict that TORM will post 6.27 earnings per share for the current year.

Hedge Funds Weigh In On TORM

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in TORM by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 81,626 shares of the company’s stock valued at $2,791,000 after purchasing an additional 505 shares during the period. Assetmark Inc. lifted its stake in shares of TORM by 76.9% in the third quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock valued at $41,000 after buying an additional 516 shares during the period. Tower Research Capital LLC TRC grew its position in TORM by 8.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,991 shares of the company’s stock worth $175,000 after buying an additional 711 shares in the last quarter. Quarry LP acquired a new stake in TORM during the third quarter worth about $51,000. Finally, NewEdge Advisors LLC increased its stake in TORM by 16.4% during the fourth quarter. NewEdge Advisors LLC now owns 11,964 shares of the company’s stock valued at $233,000 after acquiring an additional 1,685 shares during the period. Institutional investors own 73.89% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group decreased their target price on TORM from $37.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, November 14th.

TORM Company Profile

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.