Short Interest in Thermon Group Holdings, Inc. (NYSE:THR) Declines By 16.5%

Thermon Group Holdings, Inc. (NYSE:THR - Get Free Report) was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 373,100 shares, a decrease of 16.5% from the March 15th total of 446,700 shares. Currently, 1.1% of the company's stock are sold short. Based on an average trading volume of 202,000 shares, the days-to-cover ratio is presently 1.8 days.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Thermon Group from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th.

Thermon Group Stock Performance

Shares of NYSE THR traded up $0.10 during trading on Friday, reaching $26.29. The stock had a trading volume of 81,922 shares, compared to its average volume of 169,272. The firm's 50 day moving average price is $27.54 and its two-hundred day moving average price is $28.67. Thermon Group has a one year low of $23.05 and a one year high of $35.93. The stock has a market cap of $885.71 million, a PE ratio of 19.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.71 and a current ratio of 2.56.

Thermon Group (NYSE:THR - Get Free Report) last issued its earnings results on Thursday, February 6th. The technology company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.02. Thermon Group had a net margin of 9.48% and a return on equity of 11.72%. On average, research analysts forecast that Thermon Group will post 1.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in THR. Barclays PLC lifted its stake in Thermon Group by 312.1% in the third quarter. Barclays PLC now owns 54,149 shares of the technology company's stock valued at $1,616,000 after buying an additional 41,009 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Thermon Group by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 274,227 shares of the technology company's stock worth $8,183,000 after acquiring an additional 27,235 shares during the period. Jane Street Group LLC lifted its position in Thermon Group by 40.4% in the 3rd quarter. Jane Street Group LLC now owns 48,458 shares of the technology company's stock valued at $1,446,000 after purchasing an additional 13,950 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Thermon Group by 7.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 410,574 shares of the technology company's stock valued at $11,812,000 after purchasing an additional 29,146 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in Thermon Group during the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 99.76% of the company's stock.

Thermon Group Company Profile

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.