Ferroglobe (NASDAQ:GSM) Stock Price Down 10.9%

Posted by on Jun 16th, 2022

Shares of Ferroglobe PLC (NASDAQ:GSM – Get Rating) dropped 10.9% during trading on Thursday . The stock traded as low as $5.96 and last traded at $5.96. Approximately 31,335 shares changed hands during trading, a decline of 98% from the average daily volume of 1,307,555 shares. The stock had previously closed at $6.69.

GSM has been the topic of several research analyst reports. StockNews.com upgraded Ferroglobe from a “hold” rating to a “buy” rating in a report on Monday, May 23rd. TheStreet upgraded Ferroglobe from a “d” rating to a “c-” rating in a report on Thursday, March 3rd.

The firm has a fifty day moving average price of $7.24 and a 200 day moving average price of $6.88. The company has a quick ratio of 0.97, a current ratio of 1.48 and a debt-to-equity ratio of 0.94. The company has a market cap of $1.07 billion, a P/E ratio of 9.45 and a beta of 2.45.

Ferroglobe (NASDAQ:GSM – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.15. Ferroglobe had a return on equity of 43.57% and a net margin of 5.76%. The business had revenue of $715.27 million for the quarter, compared to analyst estimates of $749.00 million. During the same quarter in the prior year, the firm posted ($0.24) earnings per share. On average, sell-side analysts anticipate that Ferroglobe PLC will post 2.52 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of GSM. Marshall Wace LLP lifted its stake in shares of Ferroglobe by 718.6% during the fourth quarter. Marshall Wace LLP now owns 4,471,252 shares of the basic materials company’s stock valued at $27,766,000 after acquiring an additional 3,925,063 shares during the period. Rubric Capital Management LP lifted its stake in shares of Ferroglobe by 36.5% during the fourth quarter. Rubric Capital Management LP now owns 13,648,711 shares of the basic materials company’s stock valued at $84,758,000 after acquiring an additional 3,648,711 shares during the period. Boston Partners lifted its stake in shares of Ferroglobe by 262.1% during the first quarter. Boston Partners now owns 2,961,550 shares of the basic materials company’s stock valued at $22,804,000 after acquiring an additional 2,143,713 shares during the period. Wolf Hill Capital Management LP lifted its stake in Ferroglobe by 353.3% in the fourth quarter. Wolf Hill Capital Management LP now owns 2,696,856 shares of the basic materials company’s stock valued at $16,747,000 after buying an additional 2,101,887 shares during the period. Finally, Bank of Montreal Can lifted its stake in Ferroglobe by 774.3% in the fourth quarter. Bank of Montreal Can now owns 1,974,015 shares of the basic materials company’s stock valued at $12,199,000 after buying an additional 1,748,244 shares during the period. 31.18% of the stock is currently owned by institutional investors and hedge funds.

About Ferroglobe (NASDAQ:GSM)

Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. The company offers silicone chemicals that are 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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