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In a recent transaction, Rory F. O'Donnell, Chief Financial Officer and Senior Vice President of GrafTech International Ltd. (NYSE:EAF), purchased 50,000 shares of the company's common stock. The shares were acquired at an average price of $1.039 per share, amounting to a total investment of $51,949. The purchase comes as the stock trades near $1.10, down over 31% in the past week. According to InvestingPro analysis, the stock's RSI suggests it is in oversold territory. Following this transaction, O'Donnell holds a total of 100,000 shares in the company. This move reflects a significant increase in his stake in GrafTech International, a company known for its manufacturing operations in the electrical industrial apparatus sector. The company currently operates with a market capitalization of $279 million and faces challenging conditions with negative EBITDA of -$7.17 million in the last twelve months. InvestingPro subscribers have access to 15 additional ProTips and a comprehensive analysis of GrafTech's financial health, which is currently rated as weak.
In other recent news, GrafTech International Ltd. has seen significant changes in its executive team and board of directors. The company announced the resignation of Chief Legal Officer and Corporate Secretary, Gina K. Gunning, effective January 24, 2025. Simultaneously, Marcel Kessler, a Class II director, is set to resign from the Board of Directors by the end of December 2024. These recent developments indicate a transition period within the company's leadership.
In analyst news, JPMorgan has resumed coverage on GrafTech, issuing a Neutral rating. The firm suggests a more balanced risk/reward scenario for the company, despite potential pressure on earnings in the short term. Citi has also updated its stance on GrafTech, doubling the price target to $2.20 while maintaining a Neutral rating. The adjustment reflects GrafTech's third-quarter results for 2024 and an anticipated improvement in volume and costs.
BMO Capital has maintained a Market Perform rating on GrafTech, while doubling its price target from $1.00 to $2.00. The revised target reflects GrafTech's improved liquidity position following a recent capital agreement. All these analyst notes suggest that while GrafTech faces ongoing challenges, there are signs of potential recovery.
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