Ferroglobe PLC (NASDAQ:GSM) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totalling 1,738,200 shares, a drop of 8.0% from the June 30th total of 1,889,700 shares. Based on an average daily trading volume, of 514,000 shares, the short-interest ratio is presently 3.4 days. Currently, 2.2% of the company’s stock are sold short.
Shares of Ferroglobe stock traded down $0.09 during trading hours on Thursday, reaching $1.20. The company’s stock had a trading volume of 483,600 shares, compared to its average volume of 746,752. Ferroglobe has a one year low of $1.16 and a one year high of $8.64. The company has a market capitalization of $221.55 million, a P/E ratio of 4.29 and a beta of 2.27. The stock’s fifty day simple moving average is $1.58 and its two-hundred day simple moving average is $1.95. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 1.74.
Ferroglobe (NASDAQ:GSM) last released its quarterly earnings results on Monday, June 3rd. The basic materials company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). Ferroglobe had a net margin of 1.20% and a negative return on equity of 0.37%. The firm had revenue of $456.79 million for the quarter, compared to the consensus estimate of $481.09 million. During the same period in the previous year, the business earned $0.19 earnings per share. The firm’s revenue for the quarter was down 18.5% on a year-over-year basis. As a group, research analysts forecast that Ferroglobe will post -0.52 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp increased its position in Ferroglobe by 2.6% during the fourth quarter. Northern Trust Corp now owns 185,446 shares of the basic materials company’s stock worth $295,000 after buying an additional 4,642 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Ferroglobe by 4.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,397,692 shares of the basic materials company’s stock worth $6,993,000 after buying an additional 199,408 shares during the last quarter. Geode Capital Management LLC increased its position in Ferroglobe by 17.9% during the fourth quarter. Geode Capital Management LLC now owns 160,107 shares of the basic materials company’s stock worth $254,000 after buying an additional 24,256 shares during the last quarter. Two Sigma Advisers LP acquired a new position in Ferroglobe during the fourth quarter worth $274,000. Finally, Legal & General Group Plc increased its position in Ferroglobe by 339.8% during the fourth quarter. Legal & General Group Plc now owns 65,900 shares of the basic materials company’s stock worth $105,000 after buying an additional 50,915 shares during the last quarter. 37.67% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on the stock. B. Riley set a $5.00 price objective on shares of Ferroglobe and gave the company a “buy” rating in a research note on Wednesday, June 5th. ValuEngine raised shares of Ferroglobe from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. BidaskClub raised shares of Ferroglobe from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 11th. Finally, Zacks Investment Research lowered shares of Ferroglobe from a “hold” rating to a “strong sell” rating in a research note on Friday, June 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $5.57.
Ferroglobe PLC engages in the production of silicon metal, silicon-based specialty alloys, and ferroalloys. It operates through the following segments: Electrometallurgy-North America, Electrometallurgy-Europe, Electrometallurgy-South Africa, and Other. The company was founded on February 5, 2015 and is headquartered in London, the United Kingdom.
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