Thermon Group (NYSE:THR) Shares Gap Down - Time to Sell?

Shares of Thermon Group Holdings, Inc. (NYSE:THR - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $29.44, but opened at $25.83. Thermon Group shares last traded at $26.80, with a volume of 9,472 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Thermon Group from a "hold" rating to a "buy" rating in a research report on Saturday, September 14th.

Thermon Group Stock Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 2.61 and a quick ratio of 1.73. The firm has a fifty day simple moving average of $28.59 and a 200 day simple moving average of $30.46. The company has a market capitalization of $957.22 million, a price-to-earnings ratio of 18.74 and a beta of 1.07.

Thermon Group (NYSE:THR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.07. The firm had revenue of $115.10 million for the quarter, compared to analyst estimates of $115.99 million. Thermon Group had a return on equity of 13.26% and a net margin of 9.78%. The business's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 earnings per share. On average, analysts anticipate that Thermon Group Holdings, Inc. will post 1.98 earnings per share for the current fiscal year.

Institutional Trading of Thermon Group

A number of institutional investors have recently made changes to their positions in THR. Quest Partners LLC boosted its stake in Thermon Group by 2,375.0% during the second quarter. Quest Partners LLC now owns 1,089 shares of the technology company's stock worth $33,000 after buying an additional 1,045 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Thermon Group in the second quarter valued at $40,000. Meeder Asset Management Inc. purchased a new stake in Thermon Group in the second quarter valued at $60,000. EntryPoint Capital LLC raised its position in Thermon Group by 421.1% in the first quarter. EntryPoint Capital LLC now owns 6,331 shares of the technology company's stock valued at $207,000 after purchasing an additional 5,116 shares during the period. Finally, QRG Capital Management Inc. raised its position in Thermon Group by 9.8% in the second quarter. QRG Capital Management Inc. now owns 6,838 shares of the technology company's stock valued at $210,000 after purchasing an additional 608 shares during the period. 99.76% of the stock is owned by institutional investors and hedge funds.

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.

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