Globe Specialty Metals Inc. (GSM) Sees Large Increase in Short Interest
Globe Specialty Metals Inc. (NASDAQ:GSM) saw a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 6,358,156 shares, an increase of 30.9% from the August 31st total of 4,856,446 shares. Based on an average daily volume of 720,766 shares, the short-interest ratio is presently 8.8 days. Currently, 10.0% of the company’s shares are sold short.
Several research firms have recently weighed in on GSM. B. Riley restated a “buy” rating and set a $10.25 price target on shares of Globe Specialty Metals in a report on Saturday, September 24th. Zacks Investment Research upgraded Globe Specialty Metals from a “sell” rating to a “hold” rating in a report on Thursday, September 22nd. Robert W. Baird upgraded Globe Specialty Metals from a “neutral” rating to a “buy” rating in a report on Monday, September 19th. Jefferies Group set a $11.00 price target on Globe Specialty Metals and gave the stock a “buy” rating in a report on Monday, August 29th. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and set a $12.00 price target (down from $14.00) on shares of Globe Specialty Metals in a report on Monday, August 29th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $12.38.
Shares of Globe Specialty Metals (NASDAQ:GSM) opened at 9.21 on Thursday. The company has a 50-day moving average price of $8.87 and a 200 day moving average price of $9.03. The company’s market capitalization is $1.58 billion. Globe Specialty Metals has a one year low of $6.90 and a one year high of $14.48.
Globe Specialty Metals (NASDAQ:GSM) last issued its quarterly earnings data on Friday, August 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by $0.03. Equities analysts anticipate that Globe Specialty Metals will post ($0.09) EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, September 12th. This represents a $0.32 annualized dividend and a dividend yield of 3.47%.
Globe Specialty Metals Company Profile
Ferroglobe PLC, formerly VeloNewco Limited, is engaged in silicon and specialty metals industry. The Company produces silicon metal and silicon- and manganese-based alloy, which serves customers in the chemical, aluminum, solar, steel and ductile iron foundry industries. It operates through two segments: Electrometallurgy and Energy.
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