Ferroglobe (NASDAQ:GSM) Shares Gap Up – Time to Buy?

Shares of Ferroglobe PLC (NASDAQ:GSM) gapped up prior to trading on Tuesday . The stock had previously closed at $3.76, but opened at $4.19. Ferroglobe shares last traded at $4.4750, with a volume of 1,997,749 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Zacks Research downgraded Ferroglobe from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 12th. Wall Street Zen downgraded shares of Ferroglobe from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings reissued a “sell (d)” rating on shares of Ferroglobe in a report on Wednesday, October 8th. Finally, B. Riley dropped their target price on shares of Ferroglobe from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Ferroglobe presently has a consensus rating of “Reduce” and an average target price of $6.00.

Ferroglobe Trading Up 15.6%

The company has a debt-to-equity ratio of 0.14, a current ratio of 1.56 and a quick ratio of 0.98. The stock has a 50-day moving average price of $4.58 and a two-hundred day moving average price of $4.24. The stock has a market cap of $811.45 million, a PE ratio of -7.68 and a beta of 1.83.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings data on Wednesday, November 5th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). The firm had revenue of $311.70 million for the quarter, compared to analysts’ expectations of $393.80 million. Ferroglobe had a negative return on equity of 2.85% and a negative net margin of 6.99%. Sell-side analysts forecast that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Stockholders of record on Monday, December 22nd will be issued a $0.014 dividend. The ex-dividend date is Monday, December 22nd. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.3%. Ferroglobe’s payout ratio is -6.76%.

Institutional Trading of Ferroglobe

A number of institutional investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its stake in shares of Ferroglobe by 72.3% in the first quarter. Envestnet Asset Management Inc. now owns 288,746 shares of the basic materials company’s stock valued at $1,071,000 after acquiring an additional 121,176 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Ferroglobe in the 1st quarter valued at $738,000. Brookwood Investment Group LLC bought a new stake in shares of Ferroglobe during the first quarter worth $114,000. PNC Financial Services Group Inc. purchased a new stake in shares of Ferroglobe during the first quarter valued at $38,000. Finally, Legacy Capital Group California Inc. increased its stake in Ferroglobe by 28.0% in the 1st quarter. Legacy Capital Group California Inc. now owns 82,323 shares of the basic materials company’s stock worth $305,000 after buying an additional 18,026 shares during the period. 89.64% of the stock is currently owned by institutional investors.

About Ferroglobe

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics; and silicon metal for primary and secondary aluminum producers.