Ferroglobe (NASDAQ:GSM) Shares Gap Down to $5.99

Ferroglobe PLC (NASDAQ:GSMGet Rating) shares gapped down prior to trading on Wednesday . The stock had previously closed at $5.99, but opened at $5.25. Ferroglobe shares last traded at $5.22, with a volume of 59,112 shares traded.

Analyst Ratings Changes

A number of analysts recently issued reports on GSM shares. B. Riley started coverage on Ferroglobe in a research report on Wednesday, September 14th. They issued a “buy” rating and a $12.00 price target for the company. StockNews.com downgraded Ferroglobe from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Finally, TheStreet upgraded Ferroglobe from a “c+” rating to a “b-” rating in a research report on Tuesday.

Ferroglobe Stock Performance

The firm has a market capitalization of $874.75 million, a P/E ratio of 1.76 and a beta of 2.23. The firm has a 50-day moving average price of $5.80 and a two-hundred day moving average price of $6.26. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.91 and a quick ratio of 1.28.

Ferroglobe (NASDAQ:GSMGet Rating) last released its earnings results on Monday, August 15th. The basic materials company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.30. Ferroglobe had a return on equity of 113.59% and a net margin of 18.41%. The business had revenue of $840.81 million during the quarter, compared to the consensus estimate of $738.00 million. On average, analysts forecast that Ferroglobe PLC will post 2.93 EPS for the current fiscal year.

Institutional Trading of Ferroglobe

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its position in shares of Ferroglobe by 44,350.0% during the third quarter. Royal Bank of Canada now owns 5,334 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 5,322 shares during the last quarter. Barclays PLC increased its stake in shares of Ferroglobe by 50.8% during the third quarter. Barclays PLC now owns 6,065 shares of the basic materials company’s stock valued at $32,000 after buying an additional 2,042 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Ferroglobe by 2,066.0% during the third quarter. Tower Research Capital LLC TRC now owns 9,097 shares of the basic materials company’s stock valued at $48,000 after buying an additional 8,677 shares during the period. PDT Partners LLC purchased a new position in shares of Ferroglobe during the third quarter valued at $56,000. Finally, Delphia USA Inc. purchased a new position in shares of Ferroglobe during the third quarter valued at $59,000. 40.06% of the stock is currently owned by institutional investors.

Ferroglobe Company Profile

(Get Rating)

Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. It provides 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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