GrafTech International Ltd. (NYSE:EAF) Sees Large Decrease in Short Interest

GrafTech International Ltd. (NYSE:EAF) saw a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 16,530,000 shares, a decrease of 6.0% from the September 30th total of 17,590,000 shares. Based on an average trading volume of 2,560,000 shares, the short-interest ratio is presently 6.5 days. Currently, 10.6% of the shares of the stock are sold short.

GrafTech International Trading Down 5.7 %

Shares of EAF stock traded down $0.11 during trading hours on Thursday, reaching $1.73. 730,236 shares of the stock traded hands, compared to its average volume of 3,140,929. GrafTech International has a 1-year low of $0.52 and a 1-year high of $3.54. The business has a fifty day moving average price of $1.21 and a 200 day moving average price of $1.23. The company has a quick ratio of 2.01, a current ratio of 4.22 and a debt-to-equity ratio of 57.38. The firm has a market capitalization of $443.61 million, a PE ratio of -1.68 and a beta of 0.98.

Institutional Investors Weigh In On GrafTech International

A number of large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its stake in GrafTech International by 58.4% in the 1st quarter. Public Employees Retirement System of Ohio now owns 25,535 shares of the company’s stock valued at $35,000 after buying an additional 9,416 shares during the period. Paloma Partners Management Co bought a new stake in GrafTech International in the first quarter worth approximately $76,000. Quadrature Capital Ltd grew its position in GrafTech International by 11.3% in the first quarter. Quadrature Capital Ltd now owns 81,219 shares of the company’s stock worth $113,000 after acquiring an additional 8,271 shares in the last quarter. XTX Topco Ltd grew its position in GrafTech International by 179.6% in the second quarter. XTX Topco Ltd now owns 135,485 shares of the company’s stock worth $131,000 after acquiring an additional 87,027 shares in the last quarter. Finally, Fore Capital LLC grew its position in GrafTech International by 25.0% in the first quarter. Fore Capital LLC now owns 100,000 shares of the company’s stock worth $138,000 after acquiring an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 92.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of GrafTech International from a “neutral” rating to an “underweight” rating in a research note on Tuesday, July 16th. BMO Capital Markets dropped their target price on shares of GrafTech International from $1.20 to $1.00 and set a “market perform” rating on the stock in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $1.75.

About GrafTech International

GrafTech International Ltd. research, develops, manufactures, and sells graphite and carbon-based solutions worldwide. The company offers graphite electrodes to produce electric arc furnace steel and other ferrous and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes and synthetic graphite.