Thermon Group Holdings Inc (NYSE:THR) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totalling 301,200 shares, an increase of 13.2% from the July 31st total of 266,000 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average daily volume of 139,500 shares, the short-interest ratio is presently 2.2 days.

Several analysts have recently weighed in on the company. Zacks Investment Research downgraded Thermon Group from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. ValuEngine upgraded Thermon Group from a “hold” rating to a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Thermon Group currently has a consensus rating of “Buy” and an average target price of $27.33.

Shares of Thermon Group stock traded up $0.33 during trading hours on Friday, hitting $24.21. 5,090 shares of the company’s stock traded hands, compared to its average volume of 117,361. The stock has a 50 day simple moving average of $22.85 and a 200-day simple moving average of $24.47. The company has a quick ratio of 2.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.59. The company has a market cap of $761.27 million, a PE ratio of 20.34 and a beta of 1.46. Thermon Group has a twelve month low of $18.37 and a twelve month high of $26.81.

Thermon Group (NYSE:THR) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.09). Thermon Group had a return on equity of 10.42% and a net margin of 5.10%. The company had revenue of $91.70 million for the quarter, compared to the consensus estimate of $89.35 million. During the same period in the previous year, the business posted $0.24 EPS. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, equities research analysts predict that Thermon Group will post 1.28 EPS for the current year.

In related news, SVP Der Salm Johannes Rene Van sold 2,906 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $25.08, for a total value of $72,882.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Roger L. Fix purchased 2,250 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $22.10 per share, with a total value of $49,725.00. Following the completion of the acquisition, the director now owns 3,167 shares in the company, valued at approximately $69,990.70. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 8,650 shares of company stock valued at $186,965. 1.40% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantamental Technologies LLC bought a new stake in Thermon Group in the first quarter valued at approximately $29,000. Manchester Capital Management LLC bought a new stake in Thermon Group in the first quarter valued at approximately $36,000. Meeder Asset Management Inc. bought a new stake in Thermon Group in the second quarter valued at approximately $97,000. Marshall Wace North America L.P. bought a new stake in Thermon Group in the first quarter valued at approximately $119,000. Finally, Bank of Montreal Can increased its stake in Thermon Group by 134.6% in the second quarter. Bank of Montreal Can now owns 4,718 shares of the technology company’s stock valued at $121,000 after purchasing an additional 2,707 shares in the last quarter.

Thermon Group Company Profile

Thermon Group Holdings, Inc provides thermal engineered industrial process heating solutions for process industries in the United States, Canada, Europe, and Asia. Its products include various electric heat tracing cables, steam tracing components, tubing bundles, and instrument and control products, as well as complementary product lines.

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