GrafTech International (NYSE:EAF) Shares Gap Up – What’s Next?

Shares of GrafTech International Ltd. (NYSE:EAF) gapped up prior to trading on Tuesday . The stock had previously closed at $2.07, but opened at $2.29. GrafTech International shares last traded at $2.03, with a volume of 718,194 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently commented on EAF shares. JPMorgan Chase & Co. downgraded GrafTech International from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 16th. BMO Capital Markets lowered their target price on GrafTech International from $1.20 to $1.00 and set a “market perform” rating on the stock in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, GrafTech International currently has an average rating of “Hold” and an average target price of $1.75.

GrafTech International Stock Performance

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 firm’s 50-day moving average is $1.39 and its two-hundred day moving average is $1.25. The stock has a market cap of $560.63 million, a P/E ratio of -1.85 and a beta of 0.94.

Institutional Investors Weigh In On GrafTech International

Several hedge funds and other institutional investors have recently modified their holdings of EAF. Millennium Management LLC increased its position in shares of GrafTech International by 287.8% during the 2nd quarter. Millennium Management LLC now owns 5,065,715 shares of the company’s stock worth $4,914,000 after purchasing an additional 3,759,449 shares in the last quarter. Invenomic Capital Management LP boosted its stake in shares of GrafTech International by 89.4% in the 1st quarter. Invenomic Capital Management LP now owns 1,456,417 shares of the company’s stock valued at $2,010,000 after purchasing an additional 687,595 shares during the last quarter. Clear Harbor Asset Management LLC boosted its stake in shares of GrafTech International by 60.8% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 868,790 shares of the company’s stock valued at $843,000 after purchasing an additional 328,565 shares during the last quarter. Choreo LLC acquired a new stake in shares of GrafTech International in the 2nd quarter valued at approximately $155,000. Finally, O Keefe Stevens Advisory Inc. raised its position in shares of GrafTech International by 9.6% in the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 1,808,368 shares of the company’s stock valued at $1,754,000 after acquiring an additional 157,776 shares during the period. Institutional investors and hedge funds 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.