GrafTech International Ltd. (NYSE:EAF) Short Interest Down 13.0% in January

GrafTech International Ltd. (NYSE:EAF) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totaling 577,418 shares, a decline of 13.0% from the December 31st total of 663,982 shares. Based on an average daily volume of 223,081 shares, the days-to-cover ratio is currently 2.6 days. Approximately 2.3% of the shares of the company are sold short. Approximately 2.3% of the shares of the company are sold short. Based on an average daily volume of 223,081 shares, the days-to-cover ratio is currently 2.6 days.

Institutional Trading of GrafTech International

Large investors have recently bought and sold shares of the stock. Benefit Street Partners LLC bought a new position in shares of GrafTech International during the fourth quarter valued at $11,060,000. Prelude Capital Management LLC acquired a new stake in shares of GrafTech International during the 3rd quarter worth about $192,000. Bridgeway Capital Management LLC bought a new position in GrafTech International during the 3rd quarter valued at about $377,000. Concentric Capital Strategies LP acquired a new position in GrafTech International in the third quarter valued at about $541,000. Finally, Caption Management LLC bought a new stake in GrafTech International during the third quarter worth about $192,000. 92.83% of the stock is currently owned by institutional investors.

GrafTech International Trading Up 5.8%

NYSE EAF traded up $0.87 on Tuesday, reaching $16.00. The company’s stock had a trading volume of 110,483 shares, compared to its average volume of 201,034. GrafTech International has a 52 week low of $5.50 and a 52 week high of $20.32. The firm has a market cap of $413.12 million, a PE ratio of -2.03 and a beta of 1.63. The business has a 50-day moving average price of $16.34 and a 200 day moving average price of $14.25.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on EAF shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GrafTech International in a research report on Thursday, January 22nd. Citigroup raised their target price on GrafTech International from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. Finally, Wall Street Zen upgraded GrafTech International from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $14.25.

GrafTech International Company Profile

GrafTech International (NYSE: EAF) is a leading global manufacturer of graphite electrodes and other specialty graphite products used primarily in electric arc furnaces (EAFs) for steel production. The company’s core offerings include ultrahigh-power, high-power and regular power electrodes, along with related accessories such as graphite shapes and heterogeneous carbon materials. These products play a critical role in steelmaking by conducting the high electrical currents required to melt scrap steel efficiently and with reduced environmental impact compared to traditional blast furnace methods.

With a manufacturing footprint spanning North America, Europe and Asia, GrafTech serves steel producers and foundries worldwide.