Ferroglobe (NASDAQ:GSM) Trading 1.9% Higher

Shares of Ferroglobe PLC (NASDAQ:GSM) traded up 1.9% on Thursday . The stock traded as high as $1.75 and last traded at $1.64. 53,555 shares traded hands during trading, a decline of 92% from the average session volume of 711,590 shares. The stock had previously closed at $1.61.

Several research firms have recently commented on GSM. Zacks Investment Research lowered shares of Ferroglobe from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. B. Riley set a $4.00 price target on shares of Ferroglobe and gave the stock a “buy” rating in a research report on Friday, May 17th. ValuEngine upgraded shares of Ferroglobe from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. Finally, BidaskClub lowered shares of Ferroglobe from a “sell” rating to a “strong sell” rating in a research report on Friday, May 24th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $7.43.

The company has a market capitalization of $277.36 million, a price-to-earnings ratio of 6.07 and a beta of 2.26. The stock has a fifty day moving average price of $1.67. 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 posted its quarterly earnings data on Monday, June 3rd. The basic materials company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The company had revenue of $456.79 million during the quarter, compared to analyst estimates of $481.09 million. Ferroglobe had a negative return on equity of 0.37% and a net margin of 1.20%. The business’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 EPS. As a group, research analysts predict that Ferroglobe PLC will post -0.52 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the stock. IHT Wealth Management LLC acquired a new stake in Ferroglobe in the fourth quarter worth about $59,000. Legal & General Group Plc lifted its holdings in Ferroglobe by 339.8% in the fourth quarter. Legal & General Group Plc now owns 65,900 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 50,915 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Ferroglobe in the fourth quarter worth about $112,000. Miracle Mile Advisors LLC acquired a new stake in Ferroglobe in the first quarter worth about $126,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Ferroglobe in the fourth quarter worth about $203,000. 37.59% of the stock is owned by institutional investors and hedge funds.

About Ferroglobe (NASDAQ:GSM)

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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