Ferroglobe PLC (NASDAQ:GSM) shares rose 7.6% during mid-day trading on Friday . The stock traded as high as $8.25 and last traded at $7.89. Approximately 121,972 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 811,230 shares. The stock had previously closed at $7.33.
Several research analysts have recently weighed in on GSM shares. TheStreet cut shares of Ferroglobe from a “c-” rating to a “d+” rating in a report on Friday, June 29th. Jefferies Financial Group set a $10.00 price objective on shares of Ferroglobe and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Ferroglobe from $13.50 to $15.00 and gave the company an “overweight” rating in a report on Wednesday, May 23rd. Zacks Investment Research cut shares of Ferroglobe from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 25th. Finally, ValuEngine cut shares of Ferroglobe from a “hold” rating to a “sell” rating in a report on Tuesday, May 22nd. Three research analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $15.33.
The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.66 and a current ratio of 1.54. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 61.54 and a beta of 1.50.
Ferroglobe (NASDAQ:GSM) last released its quarterly earnings data on Monday, May 21st. The basic materials company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.03. Ferroglobe had a net margin of 3.59% and a return on equity of 6.86%. The firm had revenue of $560.70 million during the quarter, compared to analysts’ expectations of $559.12 million. analysts anticipate that Ferroglobe PLC will post 0.87 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bayesian Capital Management LP bought a new stake in Ferroglobe during the first quarter valued at approximately $110,000. Clinton Group Inc. bought a new stake in Ferroglobe during the first quarter valued at approximately $116,000. Stevens Capital Management LP bought a new stake in Ferroglobe during the second quarter valued at approximately $118,000. Trexquant Investment LP bought a new stake in Ferroglobe during the first quarter valued at approximately $125,000. Finally, Paloma Partners Management Co bought a new stake in Ferroglobe during the second quarter valued at approximately $161,000. 42.25% of the stock is owned by hedge funds and other institutional investors.
Ferroglobe Company Profile (NASDAQ:GSM)
Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. The company offers silicone chemicals used in a range of applications, including personal care items, construction-related products, health care products, and electronics, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.
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