Graham Co. (NYSE:GHM) Short Interest Down 11.2% in October

Graham Co. (NYSE:GHM) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 191,200 shares, a drop of 11.2% from the October 15th total of 215,200 shares. Based on an average daily trading volume, of 39,800 shares, the days-to-cover ratio is currently 4.8 days.

Graham Price Performance

Graham stock traded down $0.19 during trading hours on Tuesday, hitting $40.58. The company had a trading volume of 23,799 shares, compared to its average volume of 71,333. Graham has a one year low of $17.02 and a one year high of $42.65. The firm has a market cap of $441.92 million, a PE ratio of 56.86 and a beta of 0.56. The firm has a 50-day moving average of $31.41 and a 200 day moving average of $30.05.

Graham (NYSE:GHM) last released its quarterly earnings results on Friday, November 8th. The industrial products company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.13. The business had revenue of $53.56 million for the quarter, compared to analyst estimates of $50.50 million. Graham had a net margin of 3.95% and a return on equity of 7.91%. During the same period last year, the firm earned $0.04 earnings per share. As a group, research analysts expect that Graham will post 1.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Graham from a “hold” rating to a “buy” rating in a report on Thursday, September 5th.

Hedge Funds Weigh In On Graham

Hedge funds have recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in shares of Graham in the 2nd quarter valued at $31,000. nVerses Capital LLC acquired a new position in Graham during the 2nd quarter worth about $37,000. SG Americas Securities LLC acquired a new stake in shares of Graham in the third quarter valued at about $112,000. Lazard Asset Management LLC raised its holdings in Graham by 8,163.5% during the 1st quarter. Lazard Asset Management LLC now owns 4,297 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 4,245 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Graham by 36.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,096 shares of the industrial products company’s stock valued at $151,000 after purchasing an additional 1,374 shares during the last quarter. 69.46% of the stock is owned by institutional investors.

About Graham

Graham Corporation, together with its subsidiaries, designs and manufactures fluid, power, heat transfer, and vacuum equipment for chemical and petrochemical processing, defense, space, petroleum refining, cryogenic, energy, and other industries. It offers power plant systems, including ejectors and surface condensers; torpedo ejection, propulsion, and power systems, such as turbines, alternators, regulators, pumps, and blowers; and thermal management systems comprising pumps, blowers, and drive electronics for defense sector.