Thermon Group Holdings, Inc. (NYSE:THR) Sees Large Growth in Short Interest

Thermon Group Holdings, Inc. (NYSE:THR) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 446,700 shares, an increase of 30.9% from the February 28th total of 341,200 shares. Based on an average trading volume of 190,700 shares, the short-interest ratio is currently 2.3 days. Approximately 1.4% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Thermon Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th.

Institutional Trading of Thermon Group

Several hedge funds have recently added to or reduced their stakes in THR. Public Employees Retirement System of Ohio increased its stake in shares of Thermon Group by 4.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 254,351 shares of the technology company’s stock worth $7,318,000 after purchasing an additional 10,714 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Thermon Group by 14.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,269 shares of the technology company’s stock valued at $2,223,000 after purchasing an additional 9,718 shares during the period. Point72 Asset Management L.P. purchased a new stake in Thermon Group in the fourth quarter worth $192,000. ProShare Advisors LLC purchased a new position in shares of Thermon Group during the 4th quarter valued at $270,000. Finally, Meros Investment Management LP grew its stake in shares of Thermon Group by 3.9% during the 4th quarter. Meros Investment Management LP now owns 222,684 shares of the technology company’s stock worth $6,407,000 after acquiring an additional 8,297 shares during the period. Institutional investors own 99.76% of the company’s stock.

Thermon Group Stock Performance

Shares of Thermon Group stock traded down $0.54 during mid-day trading on Monday, hitting $27.87. 241,961 shares of the stock were exchanged, compared to its average volume of 171,323. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.71 and a current ratio of 2.56. The company has a market capitalization of $938.77 million, a P/E ratio of 20.49 and a beta of 0.98. The company has a 50-day simple moving average of $28.98 and a 200 day simple moving average of $29.25. Thermon Group has a 12 month low of $25.76 and a 12 month high of $35.93.

Thermon Group (NYSE:THR) last announced its quarterly earnings data on Thursday, February 6th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. Thermon Group had a return on equity of 11.72% and a net margin of 9.48%. Sell-side analysts anticipate that Thermon Group will post 1.88 earnings per share for the current fiscal year.

Thermon Group Company Profile

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 offers 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.