Thermon Group Holdings, Inc. (NYSE:THR) Short Interest Update

Thermon Group Holdings, Inc. (NYSE:THR) was the recipient of a significant increase in short interest during the month of 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 trading volume of 190,700 shares, the short-interest ratio is currently 2.3 days. Approximately 1.4% of the company’s stock are sold short.

Thermon Group Stock Performance

Shares of THR traded up $0.78 during mid-day trading on Wednesday, hitting $28.92. 201,202 shares of the company traded hands, compared to its average volume of 193,001. The stock has a market cap of $974.31 million, a price-to-earnings ratio of 21.26 and a beta of 0.98. The stock has a 50-day moving average price of $28.94 and a two-hundred day moving average price of $29.25. Thermon Group has a 1 year low of $25.76 and a 1 year high of $35.93. 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 (NYSE:THR) last announced its earnings results on Thursday, February 6th. The technology company reported $0.56 earnings per share for the quarter, beating 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%. Equities analysts anticipate that Thermon Group will post 1.88 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com lowered Thermon Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Quarry LP lifted its position in Thermon Group by 314.1% during the fourth quarter. Quarry LP now owns 853 shares of the technology company’s stock valued at $25,000 after purchasing an additional 647 shares in the last quarter. Assetmark Inc. purchased a new position in shares of Thermon Group during the 4th quarter valued at about $26,000. Venturi Wealth Management LLC bought a new position in shares of Thermon Group during the 4th quarter valued at approximately $47,000. AlphaQuest LLC increased its holdings in Thermon Group by 57,825.0% in the 4th quarter. AlphaQuest LLC now owns 2,317 shares of the technology company’s stock worth $67,000 after acquiring an additional 2,313 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Thermon Group by 4,731.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,865 shares of the technology company’s stock worth $111,000 after acquiring an additional 3,785 shares during the period. 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.