Short Interest in Thermon Group Holdings, Inc. (NYSE:THR) Decreases By 28.0%

Thermon Group Holdings, Inc. (NYSE:THR) was the target of a significant decline in short interest in November. As of November 30th, there was short interest totalling 325,300 shares, a decline of 28.0% from the November 15th total of 451,700 shares. Based on an average trading volume of 164,500 shares, the short-interest ratio is presently 2.0 days. Currently, 1.0% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, StockNews.com raised Thermon Group from a “hold” rating to a “buy” rating in a report on Saturday, September 14th.

Insider Transactions at Thermon Group

In other news, SVP David Buntin sold 28,137 shares of Thermon Group stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $32.15, for a total value of $904,604.55. Following the completion of the transaction, the senior vice president now owns 57,773 shares in the company, valued at approximately $1,857,401.95. This trade represents a 32.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. 272 Capital LP purchased a new position in shares of Thermon Group during the third quarter worth approximately $3,173,000. Franklin Resources Inc. boosted its stake in Thermon Group by 2.1% during the 3rd quarter. Franklin Resources Inc. now owns 20,665 shares of the technology company’s stock worth $595,000 after purchasing an additional 422 shares during the period. Barclays PLC grew its position in Thermon Group by 312.1% during the 3rd quarter. Barclays PLC now owns 54,149 shares of the technology company’s stock worth $1,616,000 after purchasing an additional 41,009 shares during the last quarter. Meros Investment Management LP increased its stake in Thermon Group by 2.2% in the third quarter. Meros Investment Management LP now owns 214,387 shares of the technology company’s stock valued at $6,397,000 after purchasing an additional 4,587 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Thermon Group by 1.2% in the third quarter. Geode Capital Management LLC now owns 772,597 shares of the technology company’s stock valued at $23,059,000 after buying an additional 8,910 shares during the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.

Thermon Group Stock Down 0.1 %

Shares of Thermon Group stock traded down $0.03 during trading hours on Friday, hitting $32.00. The company had a trading volume of 190,675 shares, compared to its average volume of 195,527. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.80 and a quick ratio of 1.85. The company’s 50-day moving average is $29.53 and its two-hundred day moving average is $30.06. The company has a market cap of $1.08 billion, a P/E ratio of 25.02 and a beta of 1.10. Thermon Group has a twelve month low of $23.76 and a twelve month high of $35.93.

Thermon Group (NYSE:THR) last issued its quarterly earnings data on Thursday, November 7th. The technology company reported $0.38 earnings per share (EPS) for the quarter, topping 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 company had revenue of $114.60 million for the quarter, compared to analyst estimates of $116.19 million. During the same quarter last year, the company posted $0.49 earnings per share. The business’s quarterly revenue was down 7.4% compared to the same quarter last year. Analysts anticipate that Thermon Group will post 1.79 earnings per share 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.