Short Interest in Gentherm Incorporated (NASDAQ:THRM) Decreases By 18.7%

Gentherm Incorporated (NASDAQ:THRM) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 808,400 shares, a decline of 18.7% from the October 15th total of 994,000 shares. Approximately 2.7% of the company’s stock are short sold. Based on an average daily volume of 216,400 shares, the days-to-cover ratio is currently 3.7 days.

Insiders Place Their Bets

In other news, CEO Phillip Eyler sold 4,402 shares of Gentherm stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $50.20, for a total transaction of $220,980.40. Following the completion of the sale, the chief executive officer now directly owns 147,317 shares in the company, valued at approximately $7,395,313.40. The trade was a 2.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.91% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC raised its position in shares of Gentherm by 1,317.7% during the 2nd quarter. SG Americas Securities LLC now owns 25,590 shares of the auto parts company’s stock worth $1,262,000 after purchasing an additional 23,785 shares during the last quarter. Raymond James & Associates raised its position in shares of Gentherm by 18.9% during the 3rd quarter. Raymond James & Associates now owns 128,468 shares of the auto parts company’s stock worth $5,980,000 after purchasing an additional 20,401 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Gentherm by 1.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 951,798 shares of the auto parts company’s stock worth $46,943,000 after purchasing an additional 10,402 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Gentherm during the 1st quarter worth about $693,000. Finally, ClariVest Asset Management LLC acquired a new stake in Gentherm in the 2nd quarter valued at about $1,227,000. Institutional investors and hedge funds own 97.13% of the company’s stock.

Gentherm Stock Performance

THRM traded down $0.95 on Friday, reaching $42.33. The stock had a trading volume of 148,487 shares, compared to its average volume of 186,924. Gentherm has a 12-month low of $39.86 and a 12-month high of $62.93. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 0.34. The business’s 50-day moving average price is $44.25 and its two-hundred day moving average price is $48.50. The company has a market cap of $1.31 billion, a P/E ratio of 19.78 and a beta of 1.44.

Gentherm (NASDAQ:THRM) last released its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. Gentherm had a net margin of 4.61% and a return on equity of 14.36%. The company had revenue of $371.50 million during the quarter, compared to analysts’ expectations of $372.89 million. During the same quarter in the previous year, the company earned $0.64 earnings per share. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. Sell-side analysts forecast that Gentherm will post 2.71 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on THRM. StockNews.com upgraded shares of Gentherm from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Robert W. Baird lowered their price objective on shares of Gentherm from $54.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. upgraded shares of Gentherm from an “underweight” rating to a “neutral” rating and set a $56.00 target price for the company in a research report on Monday, October 21st. Finally, Craig Hallum decreased their target price on shares of Gentherm from $85.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $57.00.

Gentherm Company Profile

Gentherm Incorporated designs, develops, manufactures, and sells thermal management and pneumatic comfort technologies in the United States and internationally. The company operates in two segments, Automotive and Medical. The Automotive segment offers climate comfort systems, which include seat heaters, blowers, and thermoelectric devices for variable temperature climate control seats and steering wheel heaters that are designed to provide thermal comfort to automobile passengers; integrated electronic components, such as electronic control units; and other climate comfort systems, including neck and shoulder conditioners and climate control system products for door panels, armrests, cupholders, and storage bins.