GrafTech International Ltd. (NYSE:EAF) Sees Large Increase in Short Interest

Key Points

• GrafTech International Ltd. saw a significant increase in short interest, rising 26.2% in August to a total of 926,200 shares, indicating heightened investor pessimism.
• Institutional investors now hold 92.83% of GrafTech International's stock, with notable increases in stakes from firms like Deutsche Bank AG and Bank of America Corp DE.
• The company's recent earnings report revealed a loss of ($1.60) per share, missing expectations, while revenue slightly exceeded analysts' forecasts at $131.84 million.

GrafTech International Ltd. (NYSE:EAF - Get Free Report) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 926,200 shares, a growth of 26.2% from the August 15th total of 734,200 shares. Based on an average daily volume of 311,700 shares, the short-interest ratio is currently 3.0 days. Currently, 5.2% of the shares of the stock are sold short. Currently, 5.2% of the shares of the stock are sold short. Based on an average daily volume of 311,700 shares, the short-interest ratio is currently 3.0 days.

Institutional Investors Weigh In On GrafTech International

Institutional investors have recently made changes to their positions in the stock. PFG Investments LLC acquired a new position in shares of GrafTech International during the 1st quarter worth about $87,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in GrafTech International by 11.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 181,074 shares of the company's stock valued at $313,000 after purchasing an additional 18,944 shares during the period. Two Sigma Advisers LP acquired a new position in GrafTech International during the fourth quarter valued at approximately $33,000. Deutsche Bank AG increased its stake in GrafTech International by 116.8% in the fourth quarter. Deutsche Bank AG now owns 1,380,651 shares of the company's stock valued at $2,389,000 after purchasing an additional 743,805 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in GrafTech International by 43.0% in the fourth quarter. Bank of America Corp DE now owns 236,166 shares of the company's stock worth $409,000 after purchasing an additional 70,978 shares during the period. 92.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on EAF shares. Zacks Research lowered shares of GrafTech International from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. BMO Capital Markets raised their price target on GrafTech International from $10.00 to $15.00 and gave the company a "market perform" rating in a report on Tuesday, July 29th. Six research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $16.25.

GrafTech International Price Performance

Shares of EAF stock traded up $0.61 on Friday, reaching $13.31. 877,588 shares of the stock were exchanged, compared to its average volume of 294,828. GrafTech International has a one year low of $5.50 and a one year high of $25.30. The stock has a market cap of $343.60 million, a PE ratio of -1.62 and a beta of 1.61. The stock has a 50 day moving average price of $11.51 and a 200 day moving average price of $10.04.

GrafTech International (NYSE:EAF - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The company reported ($1.60) earnings per share for the quarter, missing the consensus estimate of ($1.20) by ($0.40). The business had revenue of $131.84 million during the quarter, compared to analysts' expectations of $130.44 million. On average, research analysts expect that GrafTech International will post -0.57 earnings per share for the current fiscal year.

About GrafTech International

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.

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