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.
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.
- Get a free copy of the StockNews.com research report on Ferroglobe (GSM)
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