GrafTech International Ltd. (NYSE:EAF) Sees Significant Growth in Short Interest

GrafTech International Ltd. (NYSE:EAF) saw a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 1,137,434 shares, a growth of 123.6% from the January 29th total of 508,674 shares. Based on an average daily trading volume, of 913,707 shares, the short-interest ratio is presently 1.2 days. Approximately 4.4% of the company’s stock are short sold. Approximately 4.4% of the company’s stock are short sold. Based on an average daily trading volume, of 913,707 shares, the short-interest ratio is presently 1.2 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Intesa Sanpaolo Wealth Management bought a new stake in shares of GrafTech International in the fourth quarter valued at about $31,000. Jefferies Financial Group Inc. bought a new position in GrafTech International during the fourth quarter valued at about $157,000. 9823 Capital L.P. acquired a new position in GrafTech International in the 4th quarter valued at approximately $177,000. Olympiad Research LP acquired a new stake in shares of GrafTech International during the 3rd quarter worth approximately $192,000. Finally, Prelude Capital Management LLC acquired a new stake in shares of GrafTech International during the 3rd quarter worth approximately $192,000. Institutional investors own 92.83% of the company’s stock.

GrafTech International Stock Up 4.4%

Shares of NYSE EAF opened at $7.11 on Friday. GrafTech International has a 12 month low of $5.50 and a 12 month high of $20.32. The company has a market cap of $183.58 million, a P/E ratio of -0.84 and a beta of 1.63. The business’s 50 day moving average is $13.75 and its two-hundred day moving average is $13.60.

GrafTech International (NYSE:EAF) last posted its quarterly earnings data on Friday, February 6th. The company reported ($2.45) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($1.18). The firm had revenue of $116.46 million during the quarter, compared to the consensus estimate of $140.00 million. Sell-side analysts expect that GrafTech International will post -0.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EAF. Citigroup raised their price objective on GrafTech International from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GrafTech International in a report on Thursday, January 22nd. Royal Bank Of Canada reduced their price objective on shares of GrafTech International from $21.00 to $10.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 10th. Finally, Wall Street Zen downgraded shares of GrafTech International from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $11.75.

About GrafTech International

GrafTech International (NYSE: EAF) is a leading global manufacturer of graphite electrodes and other specialty graphite products used primarily in electric arc furnaces (EAFs) for steel production. The company’s core offerings include ultrahigh-power, high-power and regular power electrodes, along with related accessories such as graphite shapes and heterogeneous carbon materials. These products play a critical role in steelmaking by conducting the high electrical currents required to melt scrap steel efficiently and with reduced environmental impact compared to traditional blast furnace methods.

With a manufacturing footprint spanning North America, Europe and Asia, GrafTech serves steel producers and foundries worldwide.