Short Interest in GrafTech International Ltd. (NYSE:EAF) Rises By 26.2%

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) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 926,200 shares, an increase of 26.2% from the August 15th total of 734,200 shares. Currently, 5.2% of the company's shares are sold short. Based on an average daily volume of 311,700 shares, the days-to-cover ratio is presently 3.0 days. Based on an average daily volume of 311,700 shares, the days-to-cover ratio is presently 3.0 days. Currently, 5.2% of the company's shares are sold short.

GrafTech International Trading Down 4.2%

NYSE EAF traded down $0.56 on Monday, hitting $12.90. The company's stock had a trading volume of 293,029 shares, compared to its average volume of 306,861. The firm has a market cap of $333.08 million, a P/E ratio of -1.57 and a beta of 1.62. GrafTech International has a 52-week low of $5.50 and a 52-week high of $25.30. The company's 50-day simple moving average is $11.63 and its 200 day simple moving average is $10.04.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EAF. Wolverine Trading LLC bought a new position in GrafTech International in the fourth quarter worth about $32,000. Two Sigma Advisers LP purchased a new position in shares of GrafTech International in the 4th quarter valued at approximately $33,000. Vanguard Personalized Indexing Management LLC lifted its stake in shares of GrafTech International by 42.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 27,531 shares of the company's stock valued at $27,000 after purchasing an additional 8,188 shares during the period. Rathbones Group PLC bought a new stake in shares of GrafTech International during the first quarter valued at approximately $35,000. Finally, CWM LLC grew its stake in GrafTech International by 2,978.8% in the first quarter. CWM LLC now owns 40,517 shares of the company's stock worth $35,000 after purchasing an additional 39,201 shares during the period. 92.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EAF. Zacks Research cut GrafTech International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 21st. BMO Capital Markets raised their price target on GrafTech International from $10.00 to $15.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 29th. Six research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $16.25.

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.