Short Interest in Thermon Group Holdings, Inc. (NYSE:THR) Rises By 30.9%

Thermon Group Holdings, Inc. (NYSE:THR - Get Free Report) was the target of a large 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 volume of 190,700 shares, the days-to-cover ratio is presently 2.3 days. Currently, 1.4% of the company's stock are short sold.

Thermon Group Stock Performance

Shares of NYSE:THR traded down $1.51 during midday trading on Friday, reaching $24.46. 84,058 shares of the company's stock traded hands, compared to its average volume of 170,000. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.71 and a current ratio of 2.56. Thermon Group has a one year low of $24.09 and a one year high of $35.93. The company has a market cap of $824.06 million, a price-to-earnings ratio of 17.99 and a beta of 0.98. The stock has a 50 day moving average of $28.84 and a 200 day moving average of $29.22.

Thermon Group (NYSE:THR - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The technology company reported $0.56 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%. As a group, equities research analysts anticipate that Thermon Group will post 1.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Thermon Group by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 381,428 shares of the technology company's stock worth $11,382,000 after buying an additional 19,083 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of Thermon Group by 1.8% during the 3rd quarter. D.A. Davidson & CO. now owns 29,282 shares of the technology company's stock worth $874,000 after purchasing an additional 506 shares during the period. FMR LLC grew its stake in shares of Thermon Group by 10.0% during the third quarter. FMR LLC now owns 2,186,280 shares of the technology company's stock valued at $65,239,000 after buying an additional 198,642 shares during the last quarter. PDT Partners LLC grew its position in Thermon Group by 26.4% in the 3rd quarter. PDT Partners LLC now owns 37,499 shares of the technology company's stock valued at $1,119,000 after acquiring an additional 7,834 shares during the last quarter. Finally, 272 Capital LP purchased a new position in Thermon Group in the 3rd quarter worth about $3,173,000. Hedge funds and other institutional investors own 99.76% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Thermon Group from a "strong-buy" rating to a "buy" rating in a report 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.