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

Thermon Group Holdings, Inc. (NYSE:THR) was the recipient of a significant growth in short interest in the month of 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. Currently, 1.4% of the company’s stock are sold short. Based on an average daily volume of 190,700 shares, the short-interest ratio is presently 2.3 days.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased 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 purchasing an additional 10,714 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Thermon Group by 14.4% in 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 worth $2,223,000 after buying an additional 9,718 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Thermon Group in the 4th quarter worth $192,000. ProShare Advisors LLC bought a new stake in Thermon Group in the fourth quarter worth $270,000. Finally, Meros Investment Management LP boosted its position in Thermon Group by 3.9% during the fourth quarter. Meros Investment Management LP now owns 222,684 shares of the technology company’s stock valued at $6,407,000 after buying an additional 8,297 shares during the period. 99.76% of the stock is owned by institutional investors.

Thermon Group Stock Performance

Shares of NYSE THR traded up $0.78 during midday trading on Wednesday, reaching $28.92. The company’s stock had a trading volume of 201,202 shares, compared to its average volume of 193,001. The stock has a market capitalization of $974.31 million, a P/E ratio of 21.26 and a beta of 0.98. Thermon Group has a 12-month low of $25.76 and a 12-month high of $35.93. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.56 and a quick ratio of 1.71. The firm has a 50 day moving average price of $28.94 and a 200-day moving average price of $29.25.

Thermon Group (NYSE:THR) last released its 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 return on equity of 11.72% and a net margin of 9.48%. As a group, equities analysts predict that Thermon Group will post 1.88 earnings per share for the current 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.