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

GrafTech International Ltd. (NYSE:EAF) saw a large drop in short interest in January. As of January 31st, there was short interest totalling 14,660,000 shares, a drop of 6.3% from the January 15th total of 15,640,000 shares. Based on an average trading volume of 1,830,000 shares, the days-to-cover ratio is currently 8.0 days. Approximately 8.0% of the shares of the company are short sold.

GrafTech International Stock Up 4.1 %

Shares of EAF stock traded up $0.05 during trading on Monday, hitting $1.15. 4,683,566 shares of the company were exchanged, compared to its average volume of 1,406,975. The business’s 50-day simple moving average is $1.63 and its 200 day simple moving average is $1.45. GrafTech International has a twelve month low of $0.52 and a twelve month high of $2.53. The firm has a market capitalization of $294.46 million, a price-to-earnings ratio of -0.98 and a beta of 0.97. The company has a debt-to-equity ratio of 57.38, a quick ratio of 1.98 and a current ratio of 3.79.

GrafTech International (NYSE:EAF) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.01. GrafTech International had a negative return on equity of 459.99% and a negative net margin of 55.21%. During the same quarter last year, the business earned ($0.27) earnings per share. As a group, analysts forecast that GrafTech International will post -0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EAF. BMO Capital Markets cut their price objective on shares of GrafTech International from $2.00 to $1.50 and set a “market perform” rating on the stock in a research note on Monday, February 10th. JPMorgan Chase & Co. upgraded shares of GrafTech International from an “underweight” rating to a “neutral” rating in a research report on Friday, December 6th. Citigroup increased their price objective on shares of GrafTech International from $1.00 to $2.20 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $2.00 target price on shares of GrafTech International in a research report on Monday, February 10th.

Insider Transactions at GrafTech International

In related news, CFO Rory F. O’donnell bought 50,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $1.04 per share, with a total value of $52,000.00. Following the completion of the acquisition, the chief financial officer now owns 100,000 shares of the company’s stock, valued at $104,000. This trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Wolverine Trading LLC bought a new position in GrafTech International in the 4th quarter valued at $32,000. Two Sigma Advisers LP acquired a new position in shares of GrafTech International during the fourth quarter valued at $33,000. Ethic Inc. boosted its holdings in GrafTech International by 89.0% in the fourth quarter. Ethic Inc. now owns 21,889 shares of the company’s stock valued at $38,000 after acquiring an additional 10,307 shares during the last quarter. Cibc World Markets Corp acquired a new stake in GrafTech International in the fourth quarter worth about $42,000. Finally, Sonora Investment Management Group LLC increased its position in GrafTech International by 31.8% in the fourth quarter. Sonora Investment Management Group LLC now owns 29,025 shares of the company’s stock worth $50,000 after purchasing an additional 7,000 shares during the period. 92.83% of the stock is owned by institutional investors.

GrafTech International Company Profile

GrafTech International Ltd. research, develops, manufactures, and sells graphite and carbon-based solutions worldwide. The company offers graphite electrodes to produce electric arc furnace steel and other ferrous and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes and synthetic graphite.