The stock of Thermon Group Holdings, Inc. (NYSE:THR) is now priced at $14.66 and the shares are -0.41 points down or -2.72% lower compared to its previous closing price of $15.07. The stock had 83134 contracts set over the past session. THR shares’ daily volume is compared to its average trading volume at 210304 shares. However, it has a float of 32.37 million and although its performance was 10.08% over the week, it’s one to watch. Analysts have given the THR stock a yearly average price target of $17 per share. It means the stock’s upside potential is 15.96% with the THR share price recently placing at $14.75 to $15.34. However, some brokerage firms have priced the stock below the average, including one that has called $15.
The shorts are running away from the Thermon Group Holdings, Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the THR shares have declined. Short interest in the stock represents just 0.75% of its float, but the volume has dropped by 0. The volume of shorted shares dropped to from shares over the last two weeks. The average intraday trading volume has been shares, which means that days to cover moved to roughly.
In the last trading session, Thermon Group Holdings, Inc. (NYSE:THR) raised by $1.65 over the week and gained $0.17 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $27.73. The stock recorded its established 52-week high on 11/06/19.
Since 04/22/20, the stock has traded to a low of $12.62 at 16.16%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.27. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Thermon Group Holdings, Inc.’s two-week RSI is 52.1. This suggests that the stock is neutral at the moment and that THR shares’ price movement remains stable. The stochastic readings are equally revealing at 75.65% meaning the THR share price is currently in oversold territory.
The technical chart shows that the THR stock will likely settle at between $15.36 and $15.64 per share. However, if the stock dips below $14.77, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $14.46.
Currently, the stock is trading in the green of MACD, with a reading of 0.64. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned THR a rating of Buy in their intiating review released on March 16. SunTrust analysts upgraded their recommendation of the stock from Hold to Buy in a flash note released to investors on November 01. Johnson Rice seeing the improvements upgraded the stock from Hold to Accumulate on April 26.
The average rating for the THR equity is 2.25 and is currently gathering a bullish momentum. Of 4 analysts tracking Thermon Group Holdings, Inc. polled by Reuters, 2 rated THR as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the THR stock price is 17.03X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 41.9 above the group’s average of 25.5. Thermon Group Holdings, Inc. has its P/E ratio at 1.4, which means that the stock is currently trading at a discount relative to the 4.2 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Thermon Group Holdings, Inc. (NYSE:THR) will decrease by about -99.94%, which will see them reach $54.6 million. The company’s full-year revenues are, however, expected to diminish by about -22.5%, down from $383.49 million to $297.21 million. THR’s expected adjusted earnings should drop almost -180% to end up at -$0.12 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -30.67% to record $0.52/share.