Thermon Group Holdings Inc (NYSE:THR) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 266,000 shares, a decline of 20.4% from the June 30th total of 334,300 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 136,200 shares, the days-to-cover ratio is currently 2.0 days.
In other Thermon Group news, Director Roger L. Fix acquired 2,250 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $22.10 per share, for a total transaction of $49,725.00. Following the completion of the purchase, the director now directly owns 3,167 shares in the company, valued at $69,990.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Der Salm Johannes Rene Van sold 8,716 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $23.90, for a total transaction of $208,312.40. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 7,606 shares of company stock valued at $165,530 and have sold 14,527 shares valued at $355,795. 1.40% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of THR. Stephens Inc. AR acquired a new stake in Thermon Group in the first quarter valued at $263,000. WCM Investment Management LLC raised its holdings in Thermon Group by 68.9% in the first quarter. WCM Investment Management LLC now owns 543,728 shares of the technology company’s stock valued at $13,327,000 after acquiring an additional 221,819 shares in the last quarter. Geode Capital Management LLC raised its holdings in Thermon Group by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 336,569 shares of the technology company’s stock valued at $6,825,000 after acquiring an additional 18,367 shares in the last quarter. Confluence Investment Management LLC raised its holdings in Thermon Group by 2.9% in the first quarter. Confluence Investment Management LLC now owns 253,709 shares of the technology company’s stock valued at $6,218,000 after acquiring an additional 7,107 shares in the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in Thermon Group in the first quarter valued at $29,000.
Shares of NYSE THR traded down $1.04 during trading on Wednesday, reaching $21.46. 110,726 shares of the stock were exchanged, compared to its average volume of 112,266. The business’s 50-day moving average price is $25.00. Thermon Group has a twelve month low of $18.37 and a twelve month high of $27.95. The company has a quick ratio of 2.39, a current ratio of 3.28 and a debt-to-equity ratio of 0.57. The company has a market cap of $721.34 million, a P/E ratio of 18.03 and a beta of 1.45.
Thermon Group (NYSE:THR) last posted its earnings results on Thursday, August 8th. The technology company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.09). Thermon Group had a return on equity of 10.52% and a net margin of 5.10%. The firm had revenue of $91.70 million for the quarter, compared to analyst estimates of $89.35 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. Equities analysts anticipate that Thermon Group will post 1.37 earnings per share for the current year.
A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Thermon Group from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, June 13th. ValuEngine cut shares of Thermon Group from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $28.00.
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.
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