GrafTech International (NYSE:EAF) Stock Price Down 5.8% – Here’s Why

GrafTech International Ltd. (NYSE:EAF)’s stock price fell 5.8% during mid-day trading on Tuesday . The company traded as low as $2.12 and last traded at $2.13. 391,845 shares were traded during trading, a decline of 87% from the average session volume of 3,007,170 shares. The stock had previously closed at $2.26.

Wall Street Analyst Weigh In

A number of research firms have issued reports on EAF. JPMorgan Chase & Co. upgraded shares of GrafTech International from an “underweight” rating to a “neutral” rating in a report on Friday. Citigroup increased their price target on GrafTech International from $1.00 to $2.20 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, GrafTech International has a consensus rating of “Hold” and an average price target of $1.80.

GrafTech International Trading Down 8.4 %

The stock has a market cap of $532.34 million, a price-to-earnings ratio of -1.82 and a beta of 0.95. The business’s 50 day moving average is $1.88 and its 200 day moving average is $1.29. The company has a debt-to-equity ratio of 57.38, a current ratio of 3.79 and a quick ratio of 1.98.

GrafTech International (NYSE:EAF) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.01. GrafTech International had a negative return on equity of 459.99% and a negative net margin of 55.21%. The business had revenue of $130.65 million during the quarter, compared to analysts’ expectations of $128.14 million. During the same period in the prior year, the firm posted ($0.08) EPS. As a group, equities analysts expect that GrafTech International Ltd. will post -0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GrafTech International

Several hedge funds have recently made changes to their positions in the company. Millennium Management LLC boosted its position in shares of GrafTech International by 287.8% in the 2nd quarter. Millennium Management LLC now owns 5,065,715 shares of the company’s stock valued at $4,914,000 after purchasing an additional 3,759,449 shares during the period. Franklin Resources Inc. lifted its stake in GrafTech International by 81.0% in the third quarter. Franklin Resources Inc. now owns 4,536,232 shares of the company’s stock valued at $6,623,000 after buying an additional 2,029,350 shares during the last quarter. Clear Harbor Asset Management LLC boosted its holdings in shares of GrafTech International by 60.8% in the second quarter. Clear Harbor Asset Management LLC now owns 868,790 shares of the company’s stock valued at $843,000 after acquiring an additional 328,565 shares during the period. Choreo LLC purchased a new position in shares of GrafTech International during the second quarter worth approximately $155,000. Finally, Virtu Financial LLC increased its holdings in shares of GrafTech International by 385.5% in the 3rd quarter. Virtu Financial LLC now owns 175,702 shares of the company’s stock valued at $232,000 after acquiring an additional 139,513 shares during the period. Hedge funds and other institutional investors own 92.83% of the company’s stock.

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.