GrafTech International Ltd. $EAF Shares Sold by Hudson Bay Capital Management LP

Key Points

• Hudson Bay Capital Management LP cut its stake in GrafTech by 87.2%, selling 176,519 shares in Q3 and now holds 25,906 shares (about 0.10% of the company) valued at $332,000.
• Several other hedge funds initiated new Q3 positions in GrafTech while institutional investors collectively own 92.83% of the stock.
• GrafTech reported an EPS loss of ($2.45) and missed revenue estimates, the stock trades near $6.09 with a $157M market cap, and analysts have trimmed ratings and set a consensus price target of $11.75 with an overall "Reduce" view.

Hudson Bay Capital Management LP decreased its holdings in shares of GrafTech International Ltd. (NYSE:EAF - Free Report) by 87.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 25,906 shares of the company's stock after selling 176,519 shares during the period. Hudson Bay Capital Management LP owned approximately 0.10% of GrafTech International worth $332,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of EAF. Prelude Capital Management LLC acquired a new stake in GrafTech International in the 3rd quarter worth approximately $192,000. Bridgeway Capital Management LLC acquired a new position in GrafTech International during the 3rd quarter valued at approximately $377,000. Concentric Capital Strategies LP acquired a new position in GrafTech International during the 3rd quarter valued at approximately $541,000. Caption Management LLC purchased a new position in shares of GrafTech International in the third quarter worth $192,000. Finally, Allianz Asset Management GmbH purchased a new position in shares of GrafTech International in the third quarter worth $508,000. Institutional investors and hedge funds own 92.83% of the company's stock.

GrafTech International Price Performance

NYSE:EAF opened at $6.09 on Tuesday. The company's fifty day moving average price is $10.22 and its 200-day moving average price is $13.08. GrafTech International Ltd. has a 1-year low of $4.92 and a 1-year high of $20.32. The firm has a market capitalization of $157.19 million, a P/E ratio of -0.72 and a beta of 1.69.

GrafTech International (NYSE:EAF - Get Free Report) last posted its earnings results on Friday, February 6th. The company reported ($2.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.27) by ($1.18). The company had revenue of $116.46 million for the quarter, compared to the consensus estimate of $140.00 million. Equities analysts anticipate that GrafTech International Ltd. will post -0.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada dropped their price objective on shares of GrafTech International from $21.00 to $10.00 and set a "sector perform" rating on the stock in a report on Tuesday, February 10th. Wall Street Zen lowered GrafTech International from a "hold" rating to a "sell" rating in a research note on Saturday, February 14th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of GrafTech International in a research note on Thursday, January 22nd. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $11.75.

GrafTech International Profile

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.

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