TORM (NASDAQ:TRMD) Cut to “Strong Sell” at Kepler Capital Markets

TORM (NASDAQ:TRMD) was downgraded by analysts at Kepler Capital Markets from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

TORM Trading Down 0.6 %

NASDAQ:TRMD opened at $16.87 on Thursday. TORM has a 1 year low of $16.58 and a 1 year high of $40.47. 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 has a fifty day moving average price of $18.98 and a two-hundred day moving average price of $23.24. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 2.18 and a beta of 0.14.

Institutional Investors Weigh In On TORM

A number of hedge funds and other institutional investors have recently modified their holdings of TRMD. Centiva Capital LP acquired a new stake in shares of TORM in the 3rd quarter worth approximately $3,077,000. Exchange Traded Concepts LLC acquired a new stake in TORM in the fourth quarter valued at $312,000. Franklin Resources Inc. purchased a new position in shares of TORM in the third quarter valued at $1,047,000. PSI Advisors LLC raised its stake in shares of TORM by 139.8% during the 4th quarter. PSI Advisors LLC now owns 42,367 shares of the company’s stock worth $824,000 after buying an additional 24,702 shares during the last quarter. Finally, Arkadios Wealth Advisors acquired a new stake in TORM in the 4th quarter valued at about $301,000. 73.89% of the stock is currently owned by institutional investors and hedge funds.

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.