10 Cheap Rising Stocks to Buy Right Now

4. TORM plc (NASDAQ:TRMD)

30-day returns: 22.48%

Forward P/E ratio: 6.36

TORM plc (NASDAQ:TRMD) is a shipping company that operates a fleet of product tankers. It is one of the world’s leading carriers of refined oil products.

Last year, the company expanded its fleet through the acquisition of eight second-hand MR vessels for $340 million, with a cash consideration of $238 million and the issuance of approximately 2.65 million shares. These vessels were built in 2014-2015 at the Tier 1-Korean yard Hyundai Mipo Dockyard. Six of these vessels are fitted with scrubbers.

Despite ongoing geopolitical uncertainty, the company delivered first-quarter results in line with expectations, even though the figures are down year-over-year. TORM plc (NASDAQ:TRMD) generated time charter equivalent earnings (TCE) of $214 million, compared to $330.7 million during the same period last year. Net profit for the period stood at $62.9 million, down from $209.2 million in Q1 FY24.

The decline was driven by significantly lower freight rates compared to the prior year. However, they were in line with the levels observed in Q4 2024. Trade volumes were affected by the Red Sea disruption at the beginning of 2025. However, product tanker ton-miles started to rebound in March, which is an encouraging sign.

TORM plc (NASDAQ:TRMD)’s board of directors approved an interim dividend of $0.40 for the first quarter, payable on June 4. The distribution is equivalent to 62% of the net profit, in line with the company’s Distribution Policy.

TORM plc (NASDAQ:TRMD) is among the cheap rising stocks to buy right with, given its handsome returns over the past month and a low forward P/E ratio.