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

Thermon Group Holdings, Inc. (NYSE:THR - Get Free Report) was the recipient of a significant 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 daily 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.

Institutional Trading of Thermon Group

Large investors have recently modified their holdings of the company. Quarry LP lifted its holdings in Thermon Group by 314.1% in the fourth quarter. Quarry LP now owns 853 shares of the technology company's stock valued at $25,000 after acquiring an additional 647 shares during the period. Assetmark Inc. bought a new stake in Thermon Group during the fourth quarter valued at approximately $26,000. Venturi Wealth Management LLC bought a new stake in Thermon Group during the fourth quarter valued at approximately $47,000. AlphaQuest LLC raised its position in Thermon Group by 57,825.0% in the fourth quarter. AlphaQuest LLC now owns 2,317 shares of the technology company's stock worth $67,000 after acquiring an additional 2,313 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Thermon Group by 4,731.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,865 shares of the technology company's stock worth $111,000 after acquiring an additional 3,785 shares during the last quarter. Institutional investors own 99.76% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Thermon Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th.

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Thermon Group Stock Performance

NYSE:THR traded down $2.83 during mid-day trading on Thursday, reaching $26.00. The company's stock had a trading volume of 174,652 shares, compared to its average volume of 170,908. The firm's fifty day moving average price is $28.92 and its two-hundred day moving average price is $29.24. The company has a current ratio of 2.56, a quick ratio of 1.71 and a debt-to-equity ratio of 0.28. The stock has a market cap of $875.97 million, a P/E ratio of 19.12 and a beta of 0.98. Thermon Group has a 12-month low of $25.76 and a 12-month high of $35.93.

Thermon Group (NYSE:THR - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The technology company reported $0.56 earnings per share for the quarter, beating 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%. On average, equities analysts forecast that Thermon Group will post 1.88 EPS 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.