Will Thermon Group Holdings, Inc. (THR) Short Squeeze Soon? The Stock Formed a Bearish Ascending Triangle

July 13, 2018 - By Patrick Harkless

Investors sentiment decreased to 0.95 in 2018 Q1. Its down 0.42, from 1.37 in 2017Q4. It fall, as 6 investors sold Thermon Group Holdings, Inc. shares while 36 reduced holdings. 8 funds opened positions while 32 raised stakes. 32.04 million shares or 0.82% less from 32.30 million shares in 2017Q4 were reported.
Utd Automobile Association has invested 0.03% in Thermon Group Holdings, Inc. (NYSE:THR). The New York-based Sg Americas Secs Limited Liability Company has invested 0% in Thermon Group Holdings, Inc. (NYSE:THR). Pnc Ser Group, a Pennsylvania-based fund reported 45 shares. Voya Invest Lc has 0% invested in Thermon Group Holdings, Inc. (NYSE:THR). Dimensional Fund Lp holds 1.69 million shares or 0.02% of its portfolio. United Kingdom-based Gsa Capital Ptnrs Llp has invested 0.02% in Thermon Group Holdings, Inc. (NYSE:THR). Pub Employees Retirement Systems Of Ohio reported 0.01% stake. Victory Capital Mgmt Inc stated it has 14,528 shares. Vanguard Grp invested 0% of its portfolio in Thermon Group Holdings, Inc. (NYSE:THR). Hotchkis Wiley Capital Management Limited Liability Com holds 0.01% of its portfolio in Thermon Group Holdings, Inc. (NYSE:THR) for 56,955 shares. Van Berkom Incorporated has invested 1.71% in Thermon Group Holdings, Inc. (NYSE:THR). Wcm Mgmt Ca reported 507,509 shares. Great Lakes Advsr Ltd Liability Co stated it has 0.08% of its portfolio in Thermon Group Holdings, Inc. (NYSE:THR). California Pub Employees Retirement System accumulated 55,655 shares. Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0% in Thermon Group Holdings, Inc. (NYSE:THR).

The stock of Thermon Group Holdings, Inc. (THR) formed an ascending triangle with $21.99 target or 6.00 % below today’s $23.39 share price. The 7 months triangle pattern indicates high risk for the $760.13M company. If the $21.99 price target is reached, the company will be worth $45.61 million less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock increased 0.73% or $0.17 during the last trading session, reaching $23.39. About 27,894 shares traded. Thermon Group Holdings, Inc. (NYSE:THR) has risen 23.80% since July 13, 2017 and is uptrending. It has outperformed by 11.23% the S&P500.

Analysts await Thermon Group Holdings, Inc. (NYSE:THR) to report earnings on August, 1. They expect $0.08 earnings per share, up 700.00 % or $0.07 from last year’s $0.01 per share. THR’s profit will be $2.60M for 73.09 P/E if the $0.08 EPS becomes a reality. After $0.34 actual earnings per share reported by Thermon Group Holdings, Inc. for the previous quarter, Wall Street now forecasts -76.47 % negative EPS growth.

Thermon Group Holdings, Inc. (NYSE:THR) Ratings Coverage

Among 3 analysts covering Thermon Group Holdings Inc (NYSE:THR), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Thermon Group Holdings Inc had 4 analyst reports since January 25, 2018 according to SRatingsIntel. The rating was upgraded by Johnson Rice on Thursday, April 26 to “Buy”. BMO Capital Markets maintained Thermon Group Holdings, Inc. (NYSE:THR) on Thursday, February 8 with “Buy” rating. As per Thursday, January 25, the company rating was maintained by BMO Capital Markets. SunTrust maintained the shares of THR in report on Friday, February 9 with “Hold” rating.

Thermon Group Holdings, Inc. provides thermal engineered industrial process heating solutions for process industries in the United States, Canada, Europe, and Asia. The company has market cap of $760.13 million. The Company’s products include various electric heat tracing cables, steam tracing components, tubing bundles, and instrument and control products, as well as complementary product lines. It has a 64.97 P/E ratio. The firm offers self-regulating and power limiting heating cables, which automatically increase or decrease heat output as pipe temperature changes, as well as constant wattage heating cables; mineral insulated cables for generating high temperatures used in harsh environments; skin effect trace heaters, which could heat lines up to 15 miles long from a single power point; and heat traced tube bundles for environmental gas sampling systems.

Thermon Group Holdings, Inc. (NYSE:THR) Institutional Positions Chart

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