Graham Co. (NYSE:GHM) Short Interest Down 7.4% in September

Graham Co. (NYSE:GHM) saw a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 247,800 shares, a drop of 7.4% from the August 31st total of 267,600 shares. Based on an average daily volume of 82,600 shares, the short-interest ratio is presently 3.0 days.

Graham Price Performance

Graham stock traded down $0.10 during mid-day trading on Tuesday, reaching $29.49. 13,526 shares of the company traded hands, compared to its average volume of 75,439. Graham has a 52-week low of $15.01 and a 52-week high of $34.72. The firm has a market capitalization of $320.59 million, a price-to-earnings ratio of 68.63 and a beta of 0.56. The firm’s 50 day moving average price is $30.07 and its 200 day moving average price is $29.07.

Graham (NYSE:GHM) last released its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.15. Graham had a net margin of 2.60% and a return on equity of 5.26%. The company had revenue of $49.95 million during the quarter, compared to the consensus estimate of $50.00 million. During the same period in the prior year, the firm earned $0.25 earnings per share. On average, sell-side analysts anticipate that Graham will post 0.95 EPS for the current year.

Institutional Investors Weigh In On Graham

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. purchased a new position in Graham during the second quarter valued at $31,000. nVerses Capital LLC purchased a new stake in shares of Graham in the second quarter worth $37,000. Lazard Asset Management LLC raised its position in shares of 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 valued at $117,000 after purchasing an additional 4,245 shares during the period. XTX Topco Ltd purchased a new position in shares of Graham during the 2nd quarter valued at $255,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in Graham by 85.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,439 shares of the industrial products company’s stock worth $294,000 after buying an additional 4,811 shares during the period. Hedge funds and other institutional investors own 69.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on GHM shares. Noble Financial started coverage on shares of Graham in a research report on Monday, June 24th. They set an “outperform” rating and a $35.00 price target for the company. StockNews.com raised shares of Graham from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th.

Graham Company Profile

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.