Short Interest in Thermon Group Holdings, Inc. (NYSE:THR) Expands By 30.9%

Thermon Group Holdings, Inc. (NYSE:THR) was the recipient of a significant 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. Based on an average daily volume of 190,700 shares, the short-interest ratio is currently 2.3 days. Currently, 1.4% of the shares of the stock are short sold.

Thermon Group Price Performance

Shares of THR stock traded up $0.33 on Tuesday, reaching $28.18. The company had a trading volume of 201,065 shares, compared to its average volume of 171,054. The business’s 50-day moving average is $28.94 and its 200 day moving average is $29.25. Thermon Group has a one year low of $25.76 and a one year high of $35.93. The company has a quick ratio of 1.71, a current ratio of 2.56 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $949.38 million, a PE ratio of 20.72 and a beta of 0.98.

Thermon Group (NYSE:THR) last issued its quarterly earnings data 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 net margin of 9.48% and a return on equity of 11.72%. Equities research analysts forecast that Thermon Group will post 1.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Thermon Group

Hedge funds have recently modified their holdings of the company. Medina Value Partners LLC acquired a new position in Thermon Group in the 4th quarter worth about $17,747,000. FMR LLC grew its holdings in shares of Thermon Group by 10.0% during the third quarter. FMR LLC now owns 2,186,280 shares of the technology company’s stock worth $65,239,000 after purchasing an additional 198,642 shares during the last quarter. Wellington Management Group LLP increased 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 position in shares of Thermon Group in the fourth quarter valued at approximately $4,995,000. Finally, Kennedy Capital Management LLC raised its holdings in Thermon Group by 55.6% in the 4th quarter. Kennedy Capital Management LLC now owns 333,640 shares of the technology company’s stock valued at $9,599,000 after buying an additional 119,277 shares during the last quarter. Institutional investors and hedge funds own 99.76% of the company’s stock.

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.