Short Interest in Thermon Group Holdings, Inc. (NYSE:THR) Drops By 22.2%

Thermon Group Holdings, Inc. (NYSE:THRGet Free Report) was the recipient of a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 325,600 shares, a decline of 22.2% from the May 15th total of 418,400 shares. Approximately 1.0% of the company’s shares are sold short. Based on an average daily trading volume, of 195,300 shares, the days-to-cover ratio is presently 1.7 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Roth Mkm upped their target price on shares of Thermon Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. StockNews.com upgraded Thermon Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Finally, CJS Securities assumed coverage on Thermon Group in a research note on Monday, April 29th. They set an “outperform” rating and a $42.00 target price for the company.

Read Our Latest Stock Analysis on Thermon Group

Thermon Group Stock Down 5.2 %

NYSE:THR traded down $1.59 during mid-day trading on Friday, hitting $29.00. The stock had a trading volume of 198,143 shares, compared to its average volume of 187,359. Thermon Group has a twelve month low of $23.76 and a twelve month high of $35.93. The stock has a 50-day simple moving average of $32.45 and a two-hundred day simple moving average of $30.99. The company has a current ratio of 2.51, a quick ratio of 1.72 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $982.23 million, a PE ratio of 19.33 and a beta of 1.13.

Insider Activity at Thermon Group

In other Thermon Group news, SVP Mark John Roberts sold 2,910 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $33.35, for a total transaction of $97,048.50. Following the completion of the transaction, the senior vice president now owns 50,920 shares of the company’s stock, valued at $1,698,182. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director John T. Nesser III sold 6,000 shares of Thermon Group stock in a transaction on Friday, May 31st. The stock was sold at an average price of $33.60, for a total value of $201,600.00. Following the completion of the sale, the director now directly owns 57,315 shares of the company’s stock, valued at $1,925,784. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mark John Roberts sold 2,910 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $33.35, for a total value of $97,048.50. Following the transaction, the senior vice president now directly owns 50,920 shares in the company, valued at approximately $1,698,182. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,910 shares of company stock worth $462,849. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Thermon Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. AJOVista LLC purchased a new stake in Thermon Group during the 4th quarter worth about $85,000. Quest Partners LLC acquired a new position in Thermon Group in the fourth quarter valued at approximately $167,000. EntryPoint Capital LLC increased its stake in Thermon Group by 421.1% in the first quarter. EntryPoint Capital LLC now owns 6,331 shares of the technology company’s stock valued at $207,000 after purchasing an additional 5,116 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in Thermon Group during the fourth quarter worth approximately $238,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Thermon Group during the 1st quarter worth approximately $255,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

Thermon Group Company Profile

(Get Free Report)

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 provides 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.

Further Reading

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