Ferroglobe PLC (NASDAQ:GSM) was the recipient of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 1,470,000 shares, a decrease of 11.4% from the October 31st total of 1,660,000 shares. Based on an average daily trading volume, of 660,700 shares, the short-interest ratio is currently 2.2 days. Approximately 1.9% of the company’s stock are short sold.
Ferroglobe stock traded down $0.01 during trading hours on Friday, reaching $0.64. 164,376 shares of the company were exchanged, compared to its average volume of 495,434. The firm has a market cap of $106.02 million, a price-to-earnings ratio of 2.28 and a beta of 2.16. The company has a current ratio of 1.38, a quick ratio of 0.68 and a debt-to-equity ratio of 0.44. The stock has a 50-day moving average of $0.65 and a 200 day moving average of $1.26. Ferroglobe has a 12 month low of $0.51 and a 12 month high of $3.01.
Ferroglobe (NASDAQ:GSM) last announced its earnings results on Tuesday, September 3rd. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). Ferroglobe had a negative return on equity of 5.69% and a negative net margin of 4.12%. The company had revenue of $409.47 million for the quarter, compared to the consensus estimate of $446.01 million. During the same period in the previous year, the company earned $0.14 EPS. The firm’s revenue for the quarter was down 29.1% compared to the same quarter last year. As a group, research analysts forecast that Ferroglobe will post -0.59 EPS for the current year.
A number of equities research analysts have issued reports on GSM shares. ValuEngine raised Ferroglobe from a “sell” rating to a “hold” rating in a research report on Wednesday. Stifel Nicolaus cut Ferroglobe from a “buy” rating to a “hold” rating in a research report on Monday, September 16th. Finally, Zacks Investment Research raised Ferroglobe from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Ferroglobe presently has an average rating of “Hold” and an average target price of $3.85.
Institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC increased its position in shares of Ferroglobe by 1,557.9% during the 3rd quarter. Millennium Management LLC now owns 397,262 shares of the basic materials company’s stock worth $448,000 after purchasing an additional 373,300 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Ferroglobe by 8.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,163,398 shares of the basic materials company’s stock worth $4,705,000 after buying an additional 307,818 shares during the last quarter. United Services Automobile Association increased its position in Ferroglobe by 3.7% in the second quarter. United Services Automobile Association now owns 550,965 shares of the basic materials company’s stock worth $937,000 after buying an additional 19,574 shares during the last quarter. Citadel Advisors LLC increased its position in Ferroglobe by 211.6% in the second quarter. Citadel Advisors LLC now owns 72,635 shares of the basic materials company’s stock worth $123,000 after buying an additional 137,735 shares during the last quarter. Finally, Invesco Ltd. increased its position in Ferroglobe by 255.3% in the second quarter. Invesco Ltd. now owns 1,757,843 shares of the basic materials company’s stock worth $2,988,000 after buying an additional 1,263,094 shares during the last quarter. 30.88% of the stock is owned by institutional investors.
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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