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

Thermon Group Holdings, Inc. (NYSE:THR) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 446,700 shares, a growth of 30.9% from the February 28th total of 341,200 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average daily volume of 190,700 shares, the short-interest ratio is currently 2.3 days.

Hedge Funds Weigh In On Thermon Group

Institutional investors and hedge funds have recently modified their holdings of the business. Medina Value Partners LLC bought a new stake in Thermon Group in the 4th quarter valued at about $17,747,000. FMR LLC boosted its stake in shares of Thermon Group by 10.0% in the third quarter. FMR LLC now owns 2,186,280 shares of the technology company’s stock valued at $65,239,000 after buying an additional 198,642 shares during the period. Wellington Management Group LLP boosted its stake in shares of Thermon Group by 15.5% in the third quarter. Wellington Management Group LLP now owns 1,324,609 shares of the technology company’s stock valued at $39,526,000 after buying an additional 178,017 shares during the period. Lightrock Netherlands B.V. acquired a new stake in Thermon Group during the fourth quarter worth approximately $4,995,000. Finally, Kennedy Capital Management LLC increased its stake in Thermon Group by 55.6% during the 4th quarter. Kennedy Capital Management LLC now owns 333,640 shares of the technology company’s stock worth $9,599,000 after acquiring an additional 119,277 shares during the period. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Thermon Group Stock Performance

Shares of THR stock traded up $0.33 during midday trading on Tuesday, hitting $28.18. 201,065 shares of the company were exchanged, compared to its average volume of 171,054. The firm has a market capitalization of $949.38 million, a P/E ratio of 20.72 and a beta of 0.98. 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 has a 52 week low of $25.76 and a 52 week high of $35.93. The firm’s 50 day moving average price is $28.94 and its two-hundred day moving average price is $29.25.

Thermon Group (NYSE:THR) last posted its earnings results on Thursday, February 6th. The technology company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.54 by $0.02. Thermon Group had a return on equity of 11.72% and a net margin of 9.48%. As a group, equities research analysts anticipate that Thermon Group will post 1.88 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com lowered Thermon Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th.

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.