Ferroglobe (NASDAQ:GSM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.
According to Zacks, “Ferroglobe PLC provides silicon and specialty metals. It produces silicon metal and silicon and manganese based alloy, serves in the specialty chemical, aluminum, solar, steel and ductile iron foundry industries. Ferroglobe PLC is headquartered in London, the United Kingdom. “
Other equities research analysts also recently issued reports about the stock. Oppenheimer reiterated a “market perform” rating and set a $9.00 price target on shares of Ferroglobe in a research report on Tuesday, November 27th. BidaskClub upgraded shares of Ferroglobe from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 10th. B. Riley reduced their price target on shares of Ferroglobe from $14.50 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, November 28th. CIBC reiterated a “market perform” rating on shares of Ferroglobe in a research report on Tuesday, November 27th. Finally, UBS Group downgraded shares of Ferroglobe from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 27th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $8.74.
Shares of NASDAQ:GSM opened at $2.23 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.92 and a quick ratio of 0.68. The stock has a market capitalization of $371.48 million, a P/E ratio of 17.15 and a beta of 2.14. Ferroglobe has a 52 week low of $1.47 and a 52 week high of $17.40.
Several hedge funds have recently bought and sold shares of the company. Trellus Management Company LLC increased its stake in shares of Ferroglobe by 20.1% during the 4th quarter. Trellus Management Company LLC now owns 33,000 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 5,527 shares in the last quarter. IHT Wealth Management LLC purchased a new position in shares of Ferroglobe during the 4th quarter worth approximately $59,000. Virtu Financial LLC purchased a new position in shares of Ferroglobe during the 4th quarter worth approximately $71,000. Legal & General Group Plc increased its stake in shares of Ferroglobe by 339.8% during the 4th 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 in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Ferroglobe during the 4th quarter worth approximately $112,000. Institutional investors own 39.91% of the company’s stock.
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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