HITE Hedge Asset Management LLC Sells 191,865 Shares of Gentherm Inc $THRM

Key Points

• HITE Hedge Asset Management LLC has significantly reduced its stake in Gentherm Inc by 77.9%, now holding only 54,407 shares after selling 191,865 shares in the first quarter.
• Various hedge funds have increased their positions in Gentherm, with notable boosts including GAMMA Investing LLC increasing its holdings by 332.4% and Quarry LP by 226.8%.
• Wall Street analysts have a consensus Buy rating for Gentherm, with price targets ranging from $35.00 to $46.00 following recent earnings that missed forecasts.

HITE Hedge Asset Management LLC reduced its holdings in Gentherm Inc (NASDAQ:THRM - Free Report) by 77.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,407 shares of the auto parts company's stock after selling 191,865 shares during the period. HITE Hedge Asset Management LLC owned approximately 0.18% of Gentherm worth $1,455,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in shares of Gentherm in the 1st quarter worth about $26,000. Versant Capital Management Inc bought a new stake in shares of Gentherm in the 1st quarter worth about $28,000. Quarry LP lifted its holdings in shares of Gentherm by 226.8% in the 4th quarter. Quarry LP now owns 1,755 shares of the auto parts company's stock worth $70,000 after acquiring an additional 1,218 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Gentherm by 332.4% in the 1st quarter. GAMMA Investing LLC now owns 2,106 shares of the auto parts company's stock worth $56,000 after acquiring an additional 1,619 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Gentherm by 20.2% in the 1st quarter. US Bancorp DE now owns 3,364 shares of the auto parts company's stock worth $90,000 after acquiring an additional 565 shares during the last quarter. Institutional investors own 97.13% of the company's stock.

Gentherm Trading Up 5.3%

THRM traded up $1.84 on Friday, reaching $36.51. 260,346 shares of the company traded hands, compared to its average volume of 252,258. Gentherm Inc has a one year low of $22.75 and a one year high of $51.73. The firm has a fifty day simple moving average of $31.49 and a two-hundred day simple moving average of $29.76. The company has a market cap of $1.11 billion, a P/E ratio of 35.79 and a beta of 1.45. The company has a quick ratio of 1.35, a current ratio of 2.01 and a debt-to-equity ratio of 0.30.

Gentherm (NASDAQ:THRM - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The auto parts company reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.59 by ($0.05). Gentherm had a net margin of 2.18% and a return on equity of 9.90%. The company had revenue of $375.09 million for the quarter, compared to the consensus estimate of $358.09 million. During the same quarter in the previous year, the business earned $0.66 EPS. The company's quarterly revenue was down .2% compared to the same quarter last year. Gentherm has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Gentherm Inc will post 3.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Baird R W upgraded shares of Gentherm from a "hold" rating to a "strong-buy" rating in a report on Friday, July 11th. JPMorgan Chase & Co. raised their target price on shares of Gentherm from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Wall Street Zen lowered shares of Gentherm from a "buy" rating to a "hold" rating in a report on Friday. Robert W. Baird raised their target price on shares of Gentherm from $28.00 to $35.00 and gave the stock an "outperform" rating in a report on Friday, July 11th. Finally, Zacks Research lowered shares of Gentherm from a "strong-buy" rating to a "hold" rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.00.

About Gentherm

Gentherm Incorporated designs, develops, manufactures, and sells thermal management and pneumatic comfort technologies in the United States and internationally. The company operates in two segments, Automotive and Medical. The Automotive segment offers climate comfort systems, which include seat heaters, blowers, and thermoelectric devices for variable temperature climate control seats and steering wheel heaters that are designed to provide thermal comfort to automobile passengers; integrated electronic components, such as electronic control units; and other climate comfort systems, including neck and shoulder conditioners and climate control system products for door panels, armrests, cupholders, and storage bins.