Thermon Group (NYSE:THR) Stock Price Crosses Above 200 Day Moving Average - What's Next?

Thermon Group Holdings, Inc. (NYSE:THR - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $30.32 and traded as high as $30.96. Thermon Group shares last traded at $30.77, with a volume of 243,436 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of 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 current ratio of 2.80, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average of $28.67 and a 200-day moving average of $30.32. The firm has a market capitalization of $1.02 billion, a P/E ratio of 24.04 and a beta of 1.07.

Thermon Group (NYSE:THR - Get Free Report) last posted its earnings results on Thursday, November 7th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. Thermon Group had a return on equity of 12.08% and a net margin of 8.89%. The firm had revenue of $114.60 million for the quarter, compared to analysts' expectations of $116.19 million. During the same period in the previous year, the firm earned $0.49 earnings per share. The business's revenue was down 7.4% compared to the same quarter last year. On average, equities analysts anticipate that Thermon Group Holdings, Inc. will post 1.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Thermon Group

A number of hedge funds and other institutional investors have recently made changes to their positions in THR. FMR LLC raised its stake in Thermon Group by 10.0% during the 3rd quarter. FMR LLC now owns 2,186,280 shares of the technology company's stock worth $65,239,000 after acquiring an additional 198,642 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Thermon Group by 15.5% in the third quarter. Wellington Management Group LLP now owns 1,324,609 shares of the technology company's stock worth $39,526,000 after purchasing an additional 178,017 shares during the period. Geode Capital Management LLC lifted its position in shares of Thermon Group by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 772,597 shares of the technology company's stock worth $23,059,000 after buying an additional 8,910 shares during the period. State Street Corp lifted its holdings in Thermon Group by 0.8% during the 3rd quarter. State Street Corp now owns 769,187 shares of the technology company's stock worth $22,953,000 after buying an additional 5,882 shares in the last quarter. Finally, Needham Investment Management LLC increased its stake in Thermon Group by 21.5% in the third quarter. Needham Investment Management LLC now owns 650,000 shares of the technology company's stock valued at $19,396,000 after purchasing an additional 115,000 shares in the last quarter. Institutional investors and hedge funds 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.