Stock Traders Purchase High Volume of Ferroglobe Call Options (NASDAQ:GSM)

Ferroglobe PLC (NASDAQ:GSM – Get Rating) saw some unusual options trading on Monday. Traders acquired 5,208 call options on the stock. This is an increase of 291% compared to the typical volume of 1,331 call options.

Ferroglobe Stock Performance

NASDAQ:GSM opened at $5.02 on Tuesday. The stock’s 50-day simple moving average is $4.40 and its 200 day simple moving average is $4.52. The firm has a market capitalization of $940.92 million, a PE ratio of 2.89 and a beta of 2.22. The company has a quick ratio of 1.11, a current ratio of 1.77 and a debt-to-equity ratio of 0.49. Ferroglobe has a twelve month low of $3.64 and a twelve month high of $8.12.

Ferroglobe (NASDAQ:GSM – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The basic materials company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.21. Ferroglobe had a return on equity of 60.74% and a net margin of 14.42%. The firm had revenue of $448.63 million for the quarter, compared to analyst estimates of $495.60 million. On average, analysts anticipate that Ferroglobe will post 0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Ferroglobe

A number of large investors have recently modified their holdings of the company. Trivant Custom Portfolio Group LLC bought a new position in Ferroglobe during the first quarter worth about $25,000. Royal Bank of Canada boosted its position in 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 period. Barclays PLC boosted its position in Ferroglobe by 50.8% during the third quarter. Barclays PLC now owns 6,065 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 2,042 shares during the period. Verition Fund Management LLC bought a new position in Ferroglobe during the fourth quarter worth about $39,000. Finally, HighTower Advisors LLC bought a new position in Ferroglobe during the fourth quarter worth about $44,000. 42.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. B. Riley raised their target price on Ferroglobe from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, February 27th. StockNews.com initiated coverage on Ferroglobe in a research report on Thursday, May 18th. They issued a “buy” rating for the company.

Ferroglobe Company Profile

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Ferroglobe PLC is a holding company, which engages in the production of silicon and specialty metals. Its products include silicon metal, manganese alloys, ferrosilicon, calcium silicon, and electrodes. It operates through the following segments: Electrometallurgy-North America, Electrometallurgy-Europe, Electrometallurgy-South Africa, and Other.