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

TORM plc (NASDAQ:TRMD) was the target of a large increase in short interest in 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. Currently, 10.3% of the company’s shares are short sold. Based on an average trading volume of 1,200,000 shares, the days-to-cover ratio is currently 4.6 days.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lowered their price objective on shares of TORM from $37.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TRMD. US Bancorp DE lifted its holdings in shares of TORM by 32,389.7% during the 3rd quarter. US Bancorp DE now owns 9,422 shares of the company’s stock valued at $322,000 after buying an additional 9,393 shares during the last quarter. CWA Asset Management Group LLC bought a new position in TORM during the third quarter valued at approximately $1,238,000. Assetmark Inc. lifted its stake in 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 acquiring an additional 516 shares during the last quarter. Apollon Wealth Management LLC bought a new stake in TORM in the third quarter worth approximately $291,000. Finally, Natixis Advisors LLC acquired a new position in shares of TORM during the 3rd quarter worth $730,000. Hedge funds and other institutional investors own 73.89% of the company’s stock.

TORM Price Performance

NASDAQ TRMD opened at $17.35 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.47 and a quick ratio of 2.24. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 2.24 and a beta of 0.14. The company has a 50 day simple moving average of $19.81 and a 200-day simple moving average of $25.28. TORM has a 52-week low of $16.76 and a 52-week high of $40.47.

TORM (NASDAQ:TRMD) last issued 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 fiscal year.

About TORM

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.