GrafTech International Ltd. (NYSE:EAF) Sees Significant Decrease in Short Interest

GrafTech International Ltd. (NYSE:EAF - Get Free Report) saw a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 14,660,000 shares, a decrease of 6.3% from the January 15th total of 15,640,000 shares. Currently, 8.0% of the company's shares are sold short. Based on an average daily volume of 1,830,000 shares, the days-to-cover ratio is presently 8.0 days.

GrafTech International Stock Up 22.1 %

Shares of GrafTech International stock traded up $0.23 during trading hours on Friday, hitting $1.25. 18,554,760 shares of the company's stock traded hands, compared to its average volume of 3,116,979. The stock has a 50 day simple moving average of $1.56 and a 200-day simple moving average of $1.45. The company has a quick ratio of 1.98, a current ratio of 4.55 and a debt-to-equity ratio of 57.38. The company has a market cap of $320.29 million, a PE ratio of -2.44 and a beta of 0.97. GrafTech International has a twelve month low of $0.52 and a twelve month high of $2.53.

GrafTech International (NYSE:EAF - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.01. GrafTech International had a negative return on equity of 709.85% and a negative net margin of 24.34%. During the same period in the prior year, the business earned ($0.27) earnings per share. Equities research analysts anticipate that GrafTech International will post -0.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EAF. Royal Bank of Canada reiterated a "sector perform" rating and issued a $2.00 price target on shares of GrafTech International in a report on Monday, February 10th. BMO Capital Markets lowered their target price on GrafTech International from $2.00 to $1.50 and set a "market perform" rating for the company in a research note on Monday, February 10th. Citigroup raised their target price on GrafTech International from $1.00 to $2.20 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. upgraded GrafTech International from an "underweight" rating to a "neutral" rating in a research note on Friday, December 6th.

Insiders Place Their Bets

In other news, CFO Rory F. O'donnell bought 50,000 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $1.04 per share, with a total value of $52,000.00. Following the transaction, the chief financial officer now owns 100,000 shares of the company's stock, valued at $104,000. This represents a 100.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.60% of the company's stock.

Hedge Funds Weigh In On GrafTech International

A number of hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. grew its stake in GrafTech International by 24.6% in the fourth quarter. Ameriprise Financial Inc. now owns 5,981,468 shares of the company's stock worth $10,348,000 after purchasing an additional 1,182,040 shares in the last quarter. Geode Capital Management LLC lifted its holdings in GrafTech International by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 5,101,098 shares of the company's stock worth $8,827,000 after acquiring an additional 48,038 shares during the last quarter. Franklin Resources Inc. lifted its holdings in GrafTech International by 3.0% in the fourth quarter. Franklin Resources Inc. now owns 4,672,876 shares of the company's stock worth $8,084,000 after acquiring an additional 136,644 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in GrafTech International by 2.1% in the fourth quarter. William Blair Investment Management LLC now owns 4,461,906 shares of the company's stock worth $7,719,000 after acquiring an additional 93,722 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in GrafTech International by 1.6% in the fourth quarter. Invesco Ltd. now owns 2,751,163 shares of the company's stock worth $4,760,000 after acquiring an additional 42,268 shares during the last quarter. 92.83% of the stock is currently owned by institutional investors and hedge funds.

GrafTech International Company Profile

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.