Short Interest in GrafTech International Ltd. (NYSE:EAF) Increases By 123.6%

GrafTech International Ltd. (NYSE:EAF) saw a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 1,137,434 shares, a growth of 123.6% from the January 29th total of 508,674 shares. Approximately 4.4% of the company’s stock are short sold. Based on an average daily volume of 913,707 shares, the short-interest ratio is currently 1.2 days. Based on an average daily volume of 913,707 shares, the short-interest ratio is currently 1.2 days. Approximately 4.4% of the company’s stock are short sold.

Institutional Investors Weigh In On GrafTech International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intesa Sanpaolo Wealth Management acquired a new position in GrafTech International during the fourth quarter valued at approximately $31,000. Jefferies Financial Group Inc. bought a new stake in shares of GrafTech International during the 4th quarter worth $157,000. 9823 Capital L.P. acquired a new position in GrafTech International in the 4th quarter valued at $177,000. Olympiad Research LP bought a new position in GrafTech International in the 3rd quarter worth $192,000. Finally, Prelude Capital Management LLC bought a new position in GrafTech International in the 3rd quarter worth $192,000. 92.83% of the stock is currently owned by institutional investors and hedge funds.

GrafTech International Stock Performance

Shares of GrafTech International stock traded down $0.20 during midday trading on Friday, reaching $6.92. 380,270 shares of the company’s stock traded hands, compared to its average volume of 602,325. GrafTech International has a 52 week low of $5.50 and a 52 week high of $20.32. The company’s 50 day simple moving average is $13.58 and its 200 day simple moving average is $13.57. The company has a market cap of $178.60 million, a price-to-earnings ratio of -0.81 and a beta of 1.63.

GrafTech International (NYSE:EAF) last issued its quarterly earnings data on Friday, February 6th. The company reported ($2.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by ($1.18). The company had revenue of $116.46 million for the quarter, compared to analysts’ expectations of $140.00 million. As a group, equities research analysts predict that GrafTech International will post -0.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EAF has been the subject of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of GrafTech International in a report on Thursday, January 22nd. Wall Street Zen lowered shares of GrafTech International from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Royal Bank Of Canada dropped their price target on shares of GrafTech International from $21.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 10th. Finally, Citigroup increased their price objective on GrafTech International from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, GrafTech International presently has an average rating of “Reduce” and an average price target of $11.75.

About GrafTech International

GrafTech International (NYSE: EAF) is a leading global manufacturer of graphite electrodes and other specialty graphite products used primarily in electric arc furnaces (EAFs) for steel production. The company’s core offerings include ultrahigh-power, high-power and regular power electrodes, along with related accessories such as graphite shapes and heterogeneous carbon materials. These products play a critical role in steelmaking by conducting the high electrical currents required to melt scrap steel efficiently and with reduced environmental impact compared to traditional blast furnace methods.

With a manufacturing footprint spanning North America, Europe and Asia, GrafTech serves steel producers and foundries worldwide.