Thermon Group Holdings, Inc. (NYSE:THR) Sees Significant Decrease in Short Interest

Thermon Group Holdings, Inc. (NYSE:THR) saw a significant drop in short interest in March. As of March 31st, there was short interest totalling 373,100 shares, a drop of 16.5% from the March 15th total of 446,700 shares. Based on an average daily trading volume, of 202,000 shares, the days-to-cover ratio is presently 1.8 days. Approximately 1.1% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quarry LP lifted its holdings in Thermon Group by 314.1% in the fourth quarter. Quarry LP now owns 853 shares of the technology company’s stock valued at $25,000 after buying an additional 647 shares during the period. Assetmark Inc. bought a new stake in shares of Thermon Group during the 4th quarter valued at $26,000. GAMMA Investing LLC lifted its stake in shares of Thermon Group by 3,912.0% in the 1st quarter. GAMMA Investing LLC now owns 1,003 shares of the technology company’s stock valued at $28,000 after purchasing an additional 978 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Thermon Group in the 4th quarter worth $47,000. Finally, AlphaQuest LLC grew its stake in shares of Thermon Group by 57,825.0% during the fourth quarter. AlphaQuest LLC now owns 2,317 shares of the technology company’s stock worth $67,000 after purchasing an additional 2,313 shares during the period. Institutional investors own 99.76% of the company’s stock.

Thermon Group Stock Performance

THR stock opened at $25.04 on Wednesday. The stock has a market capitalization of $843.73 million, a PE ratio of 18.41 and a beta of 0.96. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.56 and a quick ratio of 1.71. The company has a 50 day moving average price of $27.77 and a 200 day moving average price of $28.72. Thermon Group has a fifty-two week low of $23.05 and a fifty-two week high of $35.93.

Thermon Group (NYSE:THR) last issued its quarterly earnings results on Thursday, February 6th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.02. Thermon Group had a return on equity of 11.72% and a net margin of 9.48%. Analysts forecast that Thermon Group will post 1.88 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Thermon Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th.

Thermon Group Company Profile

Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries in the United States and Latin America, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It offers heat tracing products, such as electric heat tracing cables, steam heating solutions, controls, monitoring and software, instrumentation, project services, industrial heating and filtration solutions, temporary electrical power distribution and lighting, and other products and services.