Thermon Group Holdings, Inc. (NYSE:THR) Short Interest Update

Thermon Group Holdings, Inc. (NYSE:THR - Get Free Report) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totalling 303,700 shares, a decrease of 13.8% from the April 30th total of 352,300 shares. Based on an average daily trading volume, of 194,800 shares, the short-interest ratio is presently 1.6 days. Approximately 1.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Thermon Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th.

Institutional Trading of Thermon Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC grew its stake in shares of Thermon Group by 68.9% during the first quarter. CWM LLC now owns 922 shares of the technology company's stock worth $26,000 after purchasing an additional 376 shares during the period. D.A. Davidson & CO. boosted its holdings in Thermon Group by 2.1% during the fourth quarter. D.A. Davidson & CO. now owns 29,908 shares of the technology company's stock worth $860,000 after buying an additional 626 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Thermon Group by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 109,898 shares of the technology company's stock valued at $3,061,000 after acquiring an additional 631 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Thermon Group by 3.7% in the 1st quarter. Principal Financial Group Inc. now owns 17,990 shares of the technology company's stock valued at $501,000 after acquiring an additional 639 shares during the period. Finally, Quarry LP raised its position in shares of Thermon Group by 314.1% in the 4th quarter. Quarry LP now owns 853 shares of the technology company's stock valued at $25,000 after acquiring an additional 647 shares during the period. Institutional investors own 99.76% of the company's stock.

Thermon Group Price Performance

Shares of THR traded up $0.47 on Friday, hitting $27.71. The company's stock had a trading volume of 215,357 shares, compared to its average volume of 171,816. The company has a market capitalization of $916.93 million, a PE ratio of 20.38 and a beta of 1.04. Thermon Group has a fifty-two week low of $23.05 and a fifty-two week high of $34.36. The company has a 50 day moving average price of $26.76 and a 200 day moving average price of $28.58. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.56 and a quick ratio of 1.71.

Thermon Group (NYSE:THR - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.06. The business had revenue of $134.08 million for the quarter, compared to analysts' expectations of $133.65 million. Thermon Group had a return on equity of 11.72% and a net margin of 9.48%. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 earnings per share. On average, research analysts anticipate that Thermon Group will post 1.88 earnings per share for the current fiscal year.

About Thermon Group

Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries in the United States and Latin America, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It offers heat tracing products, such as electric heat tracing cables, steam heating solutions, controls, monitoring and software, instrumentation, project services, industrial heating and filtration solutions, temporary electrical power distribution and lighting, and other products and services.