GrafTech International (NYSE:EAF) Shares Gap Up After Analyst Upgrade

GrafTech International Ltd. (NYSE:EAF) gapped up prior to trading on Tuesday after Citigroup raised their price target on the stock from $1.00 to $2.20. The stock had previously closed at $1.86, but opened at $1.92. Citigroup currently has a neutral rating on the stock. GrafTech International shares last traded at $2.16, with a volume of 871,336 shares changing hands.

Hedge Funds Weigh In On GrafTech International

Several hedge funds have recently made changes to their positions in EAF. Public Employees Retirement System of Ohio boosted its stake in shares of GrafTech International by 58.4% during the 1st quarter. Public Employees Retirement System of Ohio now owns 25,535 shares of the company’s stock worth $35,000 after acquiring an additional 9,416 shares during the period. Tyler Stone Wealth Management boosted its stake in shares of GrafTech International by 113.3% in the third quarter. Tyler Stone Wealth Management now owns 61,100 shares of the company’s stock valued at $81,000 after buying an additional 32,450 shares during the period. Intech Investment Management LLC bought a new position in GrafTech International during the 3rd quarter worth $81,000. XTX Topco Ltd increased its position in shares of 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 purchasing an additional 87,027 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in GrafTech International by 30.0% during the third quarter. The Manufacturers Life Insurance Company now owns 101,449 shares of the company’s stock worth $134,000 after buying an additional 23,413 shares in the last quarter. 92.83% of the stock is owned by institutional investors.

GrafTech International Price Performance

The company’s 50-day moving average is $1.78 and its 200-day moving average is $1.29. The company has a current ratio of 3.79, a quick ratio of 1.98 and a debt-to-equity ratio of 57.38. The firm has a market cap of $538.77 million, a price-to-earnings ratio of -1.85 and a beta of 0.95.

GrafTech International (NYSE:EAF) last posted its earnings results on Tuesday, November 12th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.01. GrafTech International had a negative net margin of 55.21% and a negative return on equity of 459.99%. The business had revenue of $130.65 million for the quarter, compared to the consensus estimate of $128.14 million. During the same period last year, the company earned ($0.08) EPS. Equities research analysts predict that GrafTech International Ltd. will post -0.43 earnings per share for the current year.

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.