GrafTech International (NYSE:EAF) Stock Price Down 3.1% – What’s Next?

GrafTech International Ltd. (NYSE:EAF) dropped 3.1% during trading on Monday . The company traded as low as $8.19 and last traded at $8.2850. Approximately 225,364 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 235,685 shares. The stock had previously closed at $8.55.

Analyst Ratings Changes

EAF has been the topic of a number of research analyst reports. JPMorgan Chase & Co. restated an “underweight” rating on shares of GrafTech International in a report on Tuesday, April 14th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $10.00 price objective on shares of GrafTech International in a research note on Tuesday, May 5th. Weiss Ratings raised shares of GrafTech International from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 21st. BMO Capital Markets upped their price objective on shares of GrafTech International from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Monday, May 4th. Finally, Wall Street Zen raised shares of GrafTech International from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $10.67.

GrafTech International Stock Down 5.6%

The stock’s 50 day moving average is $8.78 and its two-hundred day moving average is $10.82. The company has a market capitalization of $200.14 million, a PE ratio of -0.89 and a beta of 1.77.

GrafTech International (NYSE:EAF) last released its quarterly earnings results on Friday, May 1st. The company reported ($2.05) EPS for the quarter, missing the consensus estimate of ($1.25) by ($0.80). The business had revenue of $125.10 million for the quarter, compared to analyst estimates of $120.60 million. On average, sell-side analysts predict that GrafTech International Ltd. will post -6.18 EPS for the current fiscal year.

Hedge Funds Weigh In On GrafTech International

Several hedge funds and other institutional investors have recently bought and sold shares of EAF. AQR Capital Management LLC increased its holdings in GrafTech International by 5,083.2% in the 1st quarter. AQR Capital Management LLC now owns 635,663 shares of the company’s stock worth $556,000 after buying an additional 623,399 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in GrafTech International in the 2nd quarter worth approximately $182,000. Marshall Wace LLP increased its holdings in GrafTech International by 132.8% in the 2nd quarter. Marshall Wace LLP now owns 2,782,531 shares of the company’s stock worth $2,699,000 after buying an additional 1,587,052 shares during the period. Jump Financial LLC acquired a new position in GrafTech International in the 2nd quarter worth approximately $42,000. Finally, Jane Street Group LLC increased its holdings in GrafTech International by 357.6% in the 2nd quarter. Jane Street Group LLC now owns 1,678,655 shares of the company’s stock worth $1,633,000 after buying an additional 1,311,797 shares during the period. Institutional investors and hedge funds own 92.83% of the company’s stock.

GrafTech International Company Profile

GrafTech International (NYSE: EAF) is a leading global manufacturer of graphite electrodes and other specialty graphite products used primarily in electric arc furnaces (EAFs) for steel production. The company’s core offerings include ultrahigh-power, high-power and regular power electrodes, along with related accessories such as graphite shapes and heterogeneous carbon materials. These products play a critical role in steelmaking by conducting the high electrical currents required to melt scrap steel efficiently and with reduced environmental impact compared to traditional blast furnace methods.

With a manufacturing footprint spanning North America, Europe and Asia, GrafTech serves steel producers and foundries worldwide.