GrafTech International Ltd. (NYSE:EAF) Sees Significant Increase in Short Interest

GrafTech International Ltd. (NYSE:EAFGet Free Report) saw a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 15,630,000 shares, an increase of 5.0% from the April 15th total of 14,880,000 shares. Based on an average daily volume of 3,080,000 shares, the short-interest ratio is presently 5.1 days. Currently, 9.9% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EAF shares. Royal Bank of Canada reduced their target price on GrafTech International from $3.00 to $2.00 and set a “sector perform” rating for the company in a report on Friday, February 16th. BMO Capital Markets reduced their price objective on shares of GrafTech International from $2.00 to $1.50 and set a “market perform” rating for the company in a research note on Thursday, February 15th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $1.88.

Check Out Our Latest Research Report on GrafTech International

GrafTech International Stock Down 2.2 %

GrafTech International stock opened at $1.74 on Friday. The company has a debt-to-equity ratio of 24.74, a quick ratio of 1.91 and a current ratio of 3.73. The business has a 50-day simple moving average of $1.62 and a 200 day simple moving average of $1.87. GrafTech International has a 52 week low of $1.18 and a 52 week high of $5.32.

GrafTech International (NYSE:EAFGet Free Report) last issued its quarterly earnings data on Friday, April 26th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.08. The company had revenue of $136.80 million during the quarter, compared to analyst estimates of $125.73 million. GrafTech International had a negative return on equity of 66.36% and a negative net margin of 45.08%. GrafTech International’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. As a group, sell-side analysts predict that GrafTech International will post -0.43 EPS for the current fiscal year.

Insider Transactions at GrafTech International

In other GrafTech International news, major shareholder Colonial House Capital Ltd acquired 179,279 shares of the company’s stock in a transaction on Friday, April 26th. The shares were acquired at an average cost of $1.48 per share, with a total value of $265,332.92. Following the completion of the acquisition, the insider now directly owns 29,714,854 shares in the company, valued at $43,977,983.92. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders purchased a total of 3,293,315 shares of company stock worth $5,806,743 in the last quarter. Insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On GrafTech International

Institutional investors have recently made changes to their positions in the stock. New York State Common Retirement Fund grew its position in GrafTech International by 1,425.0% in the fourth quarter. New York State Common Retirement Fund now owns 4,422,999 shares of the company’s stock worth $9,686,000 after acquiring an additional 4,132,961 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of GrafTech International by 12.9% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 22,971,588 shares of the company’s stock valued at $87,981,000 after purchasing an additional 2,618,477 shares during the last quarter. Yacktman Asset Management LP raised its holdings in shares of GrafTech International by 27.6% during the 4th quarter. Yacktman Asset Management LP now owns 11,922,290 shares of the company’s stock valued at $26,110,000 after buying an additional 2,580,133 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in GrafTech International by 24.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,521,068 shares of the company’s stock worth $12,091,000 after buying an additional 1,095,959 shares during the last quarter. Finally, Cerity Partners LLC purchased a new stake in GrafTech International in the fourth quarter worth approximately $1,954,000. Institutional investors own 92.83% of the company’s stock.

About GrafTech International

(Get Free Report)

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.

Further Reading

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