GrafTech International (NYSE:EAF) Trading Up 9.1% – What’s Next?

GrafTech International Ltd. (NYSE:EAF)’s stock price traded up 9.1% during trading on Friday . The company traded as high as $1.99 and last traded at $1.99. 208,188 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 3,162,537 shares. The stock had previously closed at $1.82.

Analyst Ratings Changes

Several research firms recently commented on EAF. JPMorgan Chase & Co. cut shares of GrafTech International from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 16th. BMO Capital Markets decreased their price target on shares of GrafTech International from $1.20 to $1.00 and set a “market perform” rating for the company in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, GrafTech International has an average rating of “Hold” and a consensus target price of $1.75.

GrafTech International Price Performance

The company has a debt-to-equity ratio of 57.38, a quick ratio of 2.01 and a current ratio of 4.22. The company’s fifty day moving average price is $1.08 and its 200 day moving average price is $1.22. The firm has a market capitalization of $513.05 million, a price-to-earnings ratio of -1.67 and a beta of 0.98.

GrafTech International (NYSE:EAF) last released its quarterly earnings data on Friday, July 26th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. The business had revenue of $137.33 million for the quarter, compared to analysts’ expectations of $122.48 million. GrafTech International had a negative net margin of 50.11% and a negative return on equity of 121.77%. Equities research analysts expect that GrafTech International Ltd. will post -0.43 earnings per share for the current year.

Institutional Investors Weigh In On GrafTech International

Large investors have recently made changes to their positions in the company. Millennium Management LLC grew its stake in shares of GrafTech International by 287.8% in the 2nd quarter. Millennium Management LLC now owns 5,065,715 shares of the company’s stock worth $4,914,000 after purchasing an additional 3,759,449 shares during the last quarter. Invenomic Capital Management LP grew its position in GrafTech International by 89.4% in the first quarter. Invenomic Capital Management LP now owns 1,456,417 shares of the company’s stock worth $2,010,000 after buying an additional 687,595 shares during the last quarter. Clear Harbor Asset Management LLC increased its holdings in shares of GrafTech International by 60.8% in the second quarter. Clear Harbor Asset Management LLC now owns 868,790 shares of the company’s stock valued at $843,000 after buying an additional 328,565 shares in the last quarter. Choreo LLC acquired a new stake in shares of GrafTech International during the 2nd quarter valued at $155,000. Finally, O Keefe Stevens Advisory Inc. boosted its stake in shares of GrafTech International by 9.6% during the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 1,808,368 shares of the company’s stock worth $1,754,000 after acquiring an additional 157,776 shares in the last quarter. Institutional investors and hedge funds own 92.83% of the company’s stock.

About GrafTech International

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.