Short Interest in Thermon Group Holdings, Inc. (NYSE:THR) Drops By 16.5%

Thermon Group Holdings, Inc. (NYSE:THR - Get Free Report) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 373,100 shares, a drop of 16.5% from the March 15th total of 446,700 shares. Currently, 1.1% of the company's shares are short sold. Based on an average daily volume of 202,000 shares, the days-to-cover ratio is currently 1.8 days.

Thermon Group Stock Down 1.6 %

NYSE THR traded down $0.43 during trading on Friday, reaching $25.76. 3,795 shares of the company's stock were exchanged, compared to its average volume of 169,063. The company has a current ratio of 2.56, a quick ratio of 1.71 and a debt-to-equity ratio of 0.28. Thermon Group has a fifty-two week low of $23.05 and a fifty-two week high of $35.93. The company's fifty day simple moving average is $27.60 and its 200-day simple moving average is $28.69. The firm has a market capitalization of $867.92 million, a PE ratio of 19.08 and a beta of 0.96.

Thermon Group (NYSE:THR - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The technology company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. Thermon Group had a net margin of 9.48% and a return on equity of 11.72%. Sell-side analysts predict that Thermon Group will post 1.88 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC increased its holdings in Thermon Group by 312.1% in the third quarter. Barclays PLC now owns 54,149 shares of the technology company's stock worth $1,616,000 after buying an additional 41,009 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Thermon Group by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 274,227 shares of the technology company's stock worth $8,183,000 after purchasing an additional 27,235 shares in the last quarter. Jane Street Group LLC increased its position in Thermon Group by 40.4% during the third quarter. Jane Street Group LLC now owns 48,458 shares of the technology company's stock worth $1,446,000 after buying an additional 13,950 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Thermon Group by 7.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 410,574 shares of the technology company's stock worth $11,812,000 after buying an additional 29,146 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in shares of Thermon Group during the 4th quarter worth about $47,000. Hedge funds and other institutional investors own 99.76% of the company's stock.

About Thermon Group

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.