Thermon Group Holdings Inc (NYSE:THR) Short Interest Update

Thermon Group Holdings Inc (NYSE:THR) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 196,300 shares, a decline of 12.4% from the September 30th total of 224,100 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 107,900 shares, the short-interest ratio is presently 1.8 days.

Several research analysts have commented on THR shares. Zacks Investment Research downgraded shares of Thermon Group from a “buy” rating to a “hold” rating in a report on Friday, August 16th. ValuEngine downgraded shares of Thermon Group from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Evercore ISI reissued a “hold” rating and issued a $28.00 price target on shares of Thermon Group in a report on Wednesday.

NYSE:THR traded up $0.21 during trading hours on Friday, hitting $26.22. The stock had a trading volume of 113,881 shares, compared to its average volume of 94,796. The company has a 50 day simple moving average of $23.79 and a two-hundred day simple moving average of $24.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.41 and a quick ratio of 2.46. Thermon Group has a one year low of $18.37 and a one year high of $27.73. The firm has a market capitalization of $851.85 million, a price-to-earnings ratio of 22.42 and a beta of 1.45.

Thermon Group (NYSE:THR) last announced its quarterly earnings results on Tuesday, November 5th. The technology company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.10. Thermon Group had a net margin of 5.81% and a return on equity of 10.91%. The firm had revenue of $102.90 million during the quarter, compared to the consensus estimate of $92.24 million. During the same period last year, the firm earned $0.22 EPS. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities research analysts anticipate that Thermon Group will post 1.35 earnings per share for the current year.

In other Thermon Group news, SVP James Pribble acquired 1,400 shares of Thermon Group stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $21.35 per share, for a total transaction of $29,890.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the business. Stone Ridge Asset Management LLC boosted its holdings in Thermon Group by 4.8% in the 2nd quarter. Stone Ridge Asset Management LLC now owns 10,944 shares of the technology company’s stock valued at $281,000 after purchasing an additional 500 shares during the period. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Thermon Group by 5.4% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 10,632 shares of the technology company’s stock worth $244,000 after acquiring an additional 549 shares during the last quarter. Stephens Inc. AR lifted its holdings in shares of Thermon Group by 6.5% during the 2nd quarter. Stephens Inc. AR now owns 11,415 shares of the technology company’s stock worth $293,000 after acquiring an additional 698 shares during the last quarter. Quantamental Technologies LLC lifted its holdings in shares of Thermon Group by 75.1% during the 2nd quarter. Quantamental Technologies LLC now owns 2,099 shares of the technology company’s stock worth $54,000 after acquiring an additional 900 shares during the last quarter. Finally, Wrapmanager Inc. lifted its holdings in shares of Thermon Group by 5.9% during the 2nd quarter. Wrapmanager Inc. now owns 18,910 shares of the technology company’s stock worth $485,000 after acquiring an additional 1,057 shares during the last quarter.

About Thermon Group

Thermon Group Holdings, Inc provides thermal engineered industrial process heating solutions for process industries in the United States, Canada, Europe, and Asia. Its products include various electric heat tracing cables, steam tracing components, tubing bundles, and instrument and control products, as well as complementary product lines.

Further Reading: G-20

Receive News & Ratings for Thermon Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermon Group and related companies with MarketBeat.com's FREE daily email newsletter.