Ferroglobe (NASDAQ:GSM) Raised to “Buy” at Wall Street Zen

Ferroglobe (NASDAQ:GSM) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings lowered shares of Ferroglobe from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $6.00.

Ferroglobe Stock Performance

NASDAQ GSM opened at $4.24 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.29. The firm has a market cap of $791.31 million, a price-to-earnings ratio of -19.27 and a beta of 1.06. The firm has a 50 day simple moving average of $4.21 and a 200-day simple moving average of $4.02. Ferroglobe has a one year low of $3.08 and a one year high of $5.74.

Insider Transactions at Ferroglobe

In related news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of Ferroglobe stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $4.30, for a total value of $138,855.60. Following the completion of the transaction, the insider owned 31,693 shares in the company, valued at $136,279.90. The trade was a 50.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GSM. Bastion Asset Management Inc. purchased a new position in Ferroglobe in the first quarter valued at $4,155,000. Donald Smith & CO. Inc. acquired a new stake in Ferroglobe in the second quarter valued at $25,843,000. Sei Investments Co. raised its stake in Ferroglobe by 67.0% in the first quarter. Sei Investments Co. now owns 639,440 shares of the basic materials company’s stock valued at $2,634,000 after buying an additional 256,449 shares in the last quarter. Man Investment Partners US LP acquired a new stake in Ferroglobe in the fourth quarter valued at $6,021,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Ferroglobe during the 2nd quarter worth about $544,000. Institutional investors and hedge funds own 89.64% of the company’s stock.

Ferroglobe Company Profile

Ferroglobe PLC (NASDAQ:GSM) is a global producer of silicon and manganese-based products used in the manufacture of aluminum, steel, silicones and other industrial materials. Its product portfolio includes silicon metal, ferrosilicon, manganese alloys, calcium silicon and other specialty alloys, as well as silica fume and related products.

The company serves customers across industries such as automotive, construction, renewable energy, consumer products and chemicals. Its materials are used to improve the strength and performance of steel and aluminum, support silicone production and contribute to other metallurgical and industrial applications.

Ferroglobe was formed in 2015 through the combination of Globe Specialty Metals and Grupo FerroAtlántica.