GrafTech International (NYSE:EAF) Shares Gap Up – What’s Next?

GrafTech International Ltd. (NYSE:EAF)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $2.07, but opened at $2.29. GrafTech International shares last traded at $2.03, with a volume of 718,194 shares changing hands.

Analyst Ratings Changes

EAF has been the topic of a number of research analyst reports. BMO Capital Markets reduced their target price on GrafTech International from $1.20 to $1.00 and set a “market perform” rating on the stock in a research report on Monday, July 29th. JPMorgan Chase & Co. cut GrafTech International from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $1.75.

GrafTech International Stock Up 5.3 %

The firm has a 50 day moving average price of $1.39 and a two-hundred day moving average price of $1.25. The company has a quick ratio of 2.01, a current ratio of 4.22 and a debt-to-equity ratio of 57.38. The company has a market capitalization of $560.63 million, a price-to-earnings ratio of -1.85 and a beta of 0.94.

Institutional Investors Weigh In On GrafTech International

A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC raised its holdings in GrafTech International by 287.8% during the second 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 in the last quarter. Invenomic Capital Management LP raised its holdings in GrafTech International by 89.4% during the first quarter. Invenomic Capital Management LP now owns 1,456,417 shares of the company’s stock worth $2,010,000 after purchasing an additional 687,595 shares in the last quarter. Clear Harbor Asset Management LLC raised its holdings in GrafTech International by 60.8% during the second quarter. Clear Harbor Asset Management LLC now owns 868,790 shares of the company’s stock worth $843,000 after purchasing an additional 328,565 shares in the last quarter. Choreo LLC bought a new stake in GrafTech International during the second quarter worth approximately $155,000. Finally, O Keefe Stevens Advisory Inc. raised its holdings in GrafTech International by 9.6% during the second quarter. O Keefe Stevens Advisory Inc. now owns 1,808,368 shares of the company’s stock worth $1,754,000 after purchasing an additional 157,776 shares in the last quarter. Institutional investors 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.