Graham Corporation (NYSE:GHM) Sees Large Drop in Short Interest

Graham Corporation (NYSE:GHM) was the recipient of a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 345,173 shares, a decrease of 24.3% from the January 29th total of 456,231 shares. Currently, 3.3% of the company’s stock are short sold. Based on an average daily trading volume, of 135,267 shares, the days-to-cover ratio is presently 2.6 days. Based on an average daily trading volume, of 135,267 shares, the days-to-cover ratio is presently 2.6 days. Currently, 3.3% of the company’s stock are short sold.

Graham Stock Performance

NYSE GHM traded up $5.90 on Monday, reaching $87.12. The stock had a trading volume of 172,915 shares, compared to its average volume of 112,508. The stock has a market cap of $964.42 million, a P/E ratio of 64.53 and a beta of 0.90. Graham has a 12-month low of $24.78 and a 12-month high of $91.91. The business’s 50-day moving average price is $74.70 and its 200 day moving average price is $62.63.

Graham (NYSE:GHM) last announced its earnings results on Friday, February 6th. The industrial products company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.14. Graham had a net margin of 6.28% and a return on equity of 13.26%. The business had revenue of $56.70 million for the quarter, compared to analysts’ expectations of $52.36 million. On average, sell-side analysts predict that Graham will post 1.07 earnings per share for the current year.

Institutional Trading of Graham

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC purchased a new position in shares of Graham in the 3rd quarter valued at approximately $15,043,000. Royal Bank of Canada lifted its holdings in shares of Graham by 7,833.6% during the fourth quarter. Royal Bank of Canada now owns 245,625 shares of the industrial products company’s stock worth $15,777,000 after purchasing an additional 242,529 shares during the period. Agman Capital LLC purchased a new position in Graham in the 4th quarter valued at $14,079,000. Alyeska Investment Group L.P. purchased a new position in Graham in the 3rd quarter valued at $10,356,000. Finally, Invesco Ltd. increased its stake in Graham by 1,993.3% in the 4th quarter. Invesco Ltd. now owns 135,879 shares of the industrial products company’s stock valued at $8,728,000 after buying an additional 129,388 shares during the period. 69.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GHM has been the subject of several analyst reports. Wall Street Zen raised Graham from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Northland Securities raised Graham from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 10th. Finally, Weiss Ratings cut shares of Graham from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, February 20th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $72.50.

About Graham

Graham Corporation (NYSE: GHM) is a U.S.-based industrial engineering company that designs, manufactures and services vacuum and heat transfer equipment. Its core offerings include liquid ring vacuum pumps, surface condensers, heat exchangers and custom-engineered vacuum systems. These products play a critical role in energy-intensive industries, where reliable removal of non-condensable gases and efficient heat exchange are vital to process performance.

The company’s technologies find application across a range of end markets, including power generation, petrochemical, oil and gas, LNG, and semiconductor manufacturing.