Thermon Group Holdings, Inc. (NYSE:THR) Sees Significant Increase in Short Interest

Thermon Group Holdings, Inc. (NYSE:THR) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 446,700 shares, a growth of 30.9% from the February 28th total of 341,200 shares. Based on an average daily trading volume, of 190,700 shares, the days-to-cover ratio is presently 2.3 days. Currently, 1.4% of the shares of the company are sold short.

Thermon Group Price Performance

THR traded down $0.54 during trading on Monday, reaching $27.87. 241,961 shares of the company were exchanged, compared to its average volume of 171,323. Thermon Group has a 12-month low of $25.76 and a 12-month high of $35.93. The company’s 50-day moving average is $28.98 and its two-hundred day moving average is $29.25. The company has a quick ratio of 1.71, a current ratio of 2.56 and a debt-to-equity ratio of 0.28. The company has a market cap of $938.77 million, a price-to-earnings ratio of 20.49 and a beta of 0.98.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its position in shares of Thermon Group by 4.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 254,351 shares of the technology company’s stock worth $7,318,000 after buying an additional 10,714 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Thermon Group by 14.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,269 shares of the technology company’s stock worth $2,223,000 after acquiring an additional 9,718 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Thermon Group during the 4th quarter valued at about $192,000. ProShare Advisors LLC bought a new stake in shares of Thermon Group during the 4th quarter valued at about $270,000. Finally, Meros Investment Management LP grew its holdings in shares of Thermon Group by 3.9% during the fourth quarter. Meros Investment Management LP now owns 222,684 shares of the technology company’s stock worth $6,407,000 after purchasing an additional 8,297 shares in the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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.

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.