GrafTech International (NYSE:EAF) Shares Break Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• GrafTech shares broke above their 200-day moving average, reaching $11.51 before last trading at approximately $10.63, compared with a 200-day average of $8.62.
• Analyst sentiment remains cautious: four analysts rate the stock Hold and two rate it Sell, producing a consensus “Reduce” rating and a $10.00 price target.
• The company exceeded quarterly expectations, reporting a $1.21-per-share loss versus the forecasted $1.38 loss and revenue of $140.16 million versus estimates of $126.73 million; institutional investors own 92.83% of shares.

GrafTech International Ltd. (NYSE:EAF - Get Free Report) crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $8.62 and traded as high as $11.51. GrafTech International shares last traded at $10.6310, with a volume of 2,151,078 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen lowered GrafTech International from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 1st. Weiss Ratings raised GrafTech International from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, September 24th. Royal Bank Of Canada raised their target price on shares of GrafTech International from $7.00 to $8.00 and gave the stock a "sector perform" rating in a report on Thursday, October 15th. Finally, Zacks Research raised shares of GrafTech International from a "strong sell" rating to a "hold" rating in a research note on Monday, September 14th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, GrafTech International currently has a consensus rating of "Reduce" and a consensus price target of $10.00.

GrafTech International Price Performance

The company has a market capitalization of $277.36 million, a price-to-earnings ratio of -1.43 and a beta of 1.85. The firm has a 50-day moving average price of $7.88 and a two-hundred day moving average price of $8.62.

GrafTech International (NYSE:EAF - Get Free Report) last posted its quarterly earnings data on Friday, October 23rd. The company reported ($1.21) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.38) by $0.17. The firm had revenue of $140.16 million for the quarter, compared to the consensus estimate of $126.73 million. On average, equities analysts predict that GrafTech International Ltd. will post -6.50 EPS for the current year.

Hedge Funds Weigh In On GrafTech International

A number of large investors have recently bought and sold shares of EAF. Engineers Gate Manager LP bought a new position in GrafTech International in the second quarter valued at $190,000. Bank of New York Mellon Corp bought a new stake in GrafTech International during the 2nd quarter worth about $251,000. Ramsey Quantitative Systems acquired a new position in shares of GrafTech International during the 2nd quarter worth about $69,000. Bank of America Corp DE boosted its stake in shares of GrafTech International by 4.5% during the 1st quarter. Bank of America Corp DE now owns 94,360 shares of the company's stock worth $640,000 after buying an additional 4,067 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of GrafTech International in the 1st quarter valued at about $823,000. Institutional investors and hedge funds own 92.83% of the company's stock.

GrafTech International Company Profile

GrafTech International Ltd. NYSE: EAF manufactures graphite electrodes and related products used primarily in electric arc furnace steelmaking. Its products conduct electricity and generate the intense heat required to melt steel scrap and other metallic materials, making them important consumables for steel producers.

The company's product portfolio includes ultra-high-power, high-power and regular-power graphite electrodes, as well as specialty graphite products for industrial applications.

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