GrafTech International Ltd. (NYSE:EAF) Sees Large Decrease in Short Interest

GrafTech International Ltd. (NYSE:EAF) was the target of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 14,210,000 shares, a decrease of 6.5% from the October 31st total of 15,190,000 shares. Approximately 7.7% of the company’s shares are short sold. Based on an average trading volume of 2,220,000 shares, the days-to-cover ratio is currently 6.4 days.

Analyst Upgrades and Downgrades

Separately, Citigroup raised their price objective on shares of GrafTech International from $1.00 to $2.20 and gave the stock a “neutral” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, GrafTech International presently has a consensus rating of “Hold” and a consensus price target of $1.80.

GrafTech International Price Performance

Shares of EAF stock traded up $0.28 during mid-day trading on Tuesday, hitting $2.15. 3,393,929 shares of the stock were exchanged, compared to its average volume of 3,036,570. The company has a quick ratio of 1.98, a current ratio of 3.79 and a debt-to-equity ratio of 57.38. GrafTech International has a 52-week low of $0.52 and a 52-week high of $2.76. The firm has a fifty day moving average of $1.78 and a 200 day moving average of $1.29. The company has a market cap of $551.63 million, a PE ratio of -1.85 and a beta of 0.95.

GrafTech International (NYSE:EAF) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01. GrafTech International had a negative net margin of 55.21% and a negative return on equity of 459.99%. The business had revenue of $130.65 million for the quarter, compared to the consensus estimate of $128.14 million. During the same period last year, the firm posted ($0.08) earnings per share. Research analysts anticipate that GrafTech International will post -0.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of GrafTech International by 4.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 182,899 shares of the company’s stock valued at $253,000 after purchasing an additional 8,216 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in GrafTech International by 58.4% in the 1st quarter. Public Employees Retirement System of Ohio now owns 25,535 shares of the company’s stock valued at $35,000 after buying an additional 9,416 shares during the period. Algert Global LLC raised its position in GrafTech International by 13.3% during the 2nd quarter. Algert Global LLC now owns 164,094 shares of the company’s stock worth $159,000 after buying an additional 19,224 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of GrafTech International by 19.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 127,831 shares of the company’s stock worth $169,000 after acquiring an additional 20,769 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of GrafTech International by 30.0% in the third quarter. The Manufacturers Life Insurance Company now owns 101,449 shares of the company’s stock valued at $134,000 after acquiring an additional 23,413 shares in the last quarter. 92.83% of the stock is currently owned by institutional investors and hedge funds.

GrafTech International Company Profile

GrafTech International Ltd. research, develops, manufactures, and sells graphite and carbon-based solutions worldwide. The company offers graphite electrodes to produce electric arc furnace steel and other ferrous and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes and synthetic graphite.