GrafTech International Ltd. (NYSE:EAF) Sees Significant Growth in Short Interest

GrafTech International Ltd. (NYSE:EAF) was the recipient of a significant growth in short interest in February. As of February 13th, there was short interest totaling 1,137,434 shares, a growth of 123.6% from the January 29th total of 508,674 shares. Based on an average daily trading volume, of 913,707 shares, the short-interest ratio is presently 1.2 days. Approximately 4.4% of the shares of the company are short sold. Approximately 4.4% of the shares of the company are short sold. Based on an average daily trading volume, of 913,707 shares, the short-interest ratio is presently 1.2 days.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on EAF shares. Wall Street Zen downgraded shares of GrafTech International from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of GrafTech International in a research report on Thursday, January 22nd. Citigroup lifted their price objective on GrafTech International from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. Finally, Royal Bank Of Canada dropped their target price on GrafTech International from $21.00 to $10.00 and set a “sector perform” rating for the company in a report on Tuesday, February 10th. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, GrafTech International currently has an average rating of “Reduce” and a consensus target price of $11.75.

Hedge Funds Weigh In On GrafTech International

Several institutional investors have recently bought and sold shares of EAF. Yacktman Asset Management LP grew its holdings in shares of GrafTech International by 1.2% during the second quarter. Yacktman Asset Management LP now owns 10,826,186 shares of the company’s stock worth $10,530,000 after purchasing an additional 127,490 shares during the last quarter. Franklin Resources Inc. lifted its position in GrafTech International by 57.2% during the 2nd quarter. Franklin Resources Inc. now owns 7,131,013 shares of the company’s stock worth $6,936,000 after buying an additional 2,594,562 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in GrafTech International by 10.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,673,093 shares of the company’s stock worth $5,518,000 after acquiring an additional 546,177 shares during the last quarter. Prescott Group Capital Management L.L.C. increased its position in GrafTech International by 92.3% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 3,151,686 shares of the company’s stock valued at $3,065,000 after acquiring an additional 1,512,436 shares in the last quarter. Finally, Marshall Wace LLP increased its position in GrafTech International by 132.8% in the 2nd quarter. Marshall Wace LLP now owns 2,782,531 shares of the company’s stock valued at $2,699,000 after acquiring an additional 1,587,052 shares in the last quarter. Institutional investors own 92.83% of the company’s stock.

GrafTech International Stock Up 4.4%

Shares of EAF stock opened at $7.11 on Friday. The company has a market capitalization of $183.58 million, a P/E ratio of -0.84 and a beta of 1.63. GrafTech International has a 12-month low of $5.50 and a 12-month high of $20.32. The firm has a 50-day moving average price of $13.75 and a 200 day moving average price of $13.60.

GrafTech International (NYSE:EAF) last issued its quarterly earnings data on Friday, February 6th. The company reported ($2.45) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($1.18). The business had revenue of $116.46 million for the quarter, compared to analysts’ expectations of $140.00 million. As a group, research analysts expect that GrafTech International will post -0.57 earnings per share for the current year.

About GrafTech International

GrafTech International (NYSE: EAF) is a leading global manufacturer of graphite electrodes and other specialty graphite products used primarily in electric arc furnaces (EAFs) for steel production. The company’s core offerings include ultrahigh-power, high-power and regular power electrodes, along with related accessories such as graphite shapes and heterogeneous carbon materials. These products play a critical role in steelmaking by conducting the high electrical currents required to melt scrap steel efficiently and with reduced environmental impact compared to traditional blast furnace methods.

With a manufacturing footprint spanning North America, Europe and Asia, GrafTech serves steel producers and foundries worldwide.