GrafTech International (NYSE:EAF) Trading 9.1% Higher – Here’s Why

GrafTech International Ltd. (NYSE:EAF)’s stock price shot up 9.1% on Friday . The stock traded as high as $1.99 and last traded at $1.99. 208,188 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 3,162,537 shares. The stock had previously closed at $1.82.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered GrafTech International from a “neutral” rating to an “underweight” rating in a research report on Tuesday, July 16th. BMO Capital Markets reduced their price objective on shares of GrafTech International from $1.20 to $1.00 and set a “market perform” rating on the stock in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, GrafTech International presently has an average rating of “Hold” and an average price target of $1.75.

GrafTech International Stock Up 8.2 %

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 company has a market capitalization of $506.62 million, a P/E ratio of -1.81 and a beta of 0.98. The firm has a fifty day simple moving average of $1.13 and a 200-day simple moving average of $1.23.

GrafTech International (NYSE:EAF) last posted its earnings results on Friday, July 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. GrafTech International had a negative return on equity of 121.77% and a negative net margin of 50.11%. The business had revenue of $137.33 million during the quarter, compared to analysts’ expectations of $122.48 million. On average, equities research analysts expect that GrafTech International Ltd. will post -0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On GrafTech International

Several large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in GrafTech International by 396.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 104,200 shares of the company’s stock worth $144,000 after purchasing an additional 83,209 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of GrafTech International by 12.0% in the first quarter. BNP Paribas Financial Markets now owns 123,395 shares of the company’s stock valued at $170,000 after purchasing an additional 13,203 shares in the last quarter. Fore Capital LLC boosted its position in shares of GrafTech International by 25.0% during the first quarter. Fore Capital LLC now owns 100,000 shares of the company’s stock worth $138,000 after buying an additional 20,000 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of GrafTech International by 43.2% during the first quarter. Russell Investments Group Ltd. now owns 195,665 shares of the company’s stock worth $270,000 after buying an additional 59,013 shares in the last quarter. Finally, William Blair Investment Management LLC raised its position in GrafTech International by 0.3% in the 1st quarter. William Blair Investment Management LLC now owns 4,511,025 shares of the company’s stock valued at $6,225,000 after buying an additional 12,648 shares during the last quarter. Institutional investors own 92.83% of the company’s stock.

GrafTech International Company Profile

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.