Ferroglobe (NASDAQ:GSM) Trading Down 12.7%

Ferroglobe PLC (NASDAQ:GSM) dropped 12.7% during mid-day trading on Thursday . The company traded as low as $0.62 and last traded at $0.69, approximately 2,410,152 shares were traded during trading. An increase of 227% from the average daily volume of 737,616 shares. The stock had previously closed at $0.79.

GSM has been the subject of a number of research analyst reports. Stifel Nicolaus downgraded shares of Ferroglobe from a “buy” rating to a “hold” rating in a report on Monday, September 16th. ValuEngine downgraded shares of Ferroglobe from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Finally, Zacks Investment Research downgraded shares of Ferroglobe from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $5.57.

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 company has a market capitalization of $135.14 million, a P/E ratio of 2.85 and a beta of 2.24. The business’s fifty day moving average price is $1.17 and its 200-day moving average price is $1.63.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Tuesday, September 3rd. The basic materials company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The business had revenue of $409.47 million during the quarter, compared to analysts’ expectations of $446.01 million. Ferroglobe had a negative return on equity of 5.69% and a negative net margin of 4.12%. Ferroglobe’s revenue for the quarter was down 29.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.14 EPS. As a group, equities research analysts forecast that Ferroglobe PLC will post -0.59 EPS for the current year.

Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its stake in Ferroglobe by 25.0% during the second quarter. Russell Investments Group Ltd. now owns 38,418 shares of the basic materials company’s stock worth $65,000 after acquiring an additional 7,676 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Ferroglobe by 69.7% in the second quarter. Parametric Portfolio Associates LLC now owns 19,561 shares of the basic materials company’s stock worth $33,000 after buying an additional 8,033 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Ferroglobe by 14.0% in the second quarter. Wells Fargo & Company MN now owns 97,018 shares of the basic materials company’s stock worth $165,000 after buying an additional 11,947 shares in the last quarter. United Services Automobile Association lifted its stake in shares of 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 in the last quarter. Finally, Adirondack Research & Management Inc. lifted its stake in shares of Ferroglobe by 13.8% in the first quarter. Adirondack Research & Management Inc. now owns 578,771 shares of the basic materials company’s stock worth $1,186,000 after buying an additional 70,400 shares in the last quarter. Institutional investors own 34.59% of the company’s stock.

Ferroglobe Company Profile (NASDAQ:GSM)

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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