TORM plc (NASDAQ:TRMD) Short Interest Up 22.4% in February

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

TORM Stock Performance

TRMD opened at $17.62 on Wednesday. TORM has a 12-month low of $16.76 and a 12-month high of $40.47. The firm has a market capitalization of $1.66 billion, a P/E ratio of 2.28 and a beta of 0.21. The stock’s 50 day moving average price is $19.85 and its two-hundred day moving average price is $25.34. The company has a quick ratio of 2.24, a current ratio of 2.47 and a debt-to-equity ratio of 0.51.

Institutional Investors Weigh In On TORM

Several hedge funds and other institutional investors have recently modified their holdings of TRMD. US Bancorp DE boosted its holdings in TORM by 32,389.7% in the 3rd quarter. US Bancorp DE now owns 9,422 shares of the company’s stock valued at $322,000 after purchasing an additional 9,393 shares during the period. CWA Asset Management Group LLC bought a new stake in shares of TORM in the third quarter valued at about $1,238,000. Assetmark Inc. grew its position in TORM by 76.9% during the third quarter. Assetmark Inc. now owns 1,187 shares of the company’s stock worth $41,000 after buying an additional 516 shares in the last quarter. Apollon Wealth Management LLC bought a new position in TORM during the third quarter valued at about $291,000. Finally, Natixis Advisors LLC acquired a new position in TORM in the 3rd quarter valued at approximately $730,000. Institutional investors and hedge funds own 73.89% of the company’s stock.

Analyst Ratings Changes

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

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.