Ferroglobe PLC (NASDAQ:GSM) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 1,626,100 shares, a drop of 6.4% from the July 31st total of 1,738,200 shares. Based on an average daily volume of 495,500 shares, the short-interest ratio is currently 3.3 days. Approximately 2.1% of the company’s stock are sold short.

NASDAQ GSM traded up $0.11 during trading on Monday, hitting $1.41. 37,187 shares of the company traded hands, compared to its average volume of 598,996. Ferroglobe has a 12 month low of $1.11 and a 12 month high of $8.59. The business has a fifty day simple moving average of $1.33 and a 200 day simple moving average of $1.82. 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 $204.64 million, a P/E ratio of 5.02 and a beta of 2.27.

Ferroglobe (NASDAQ:GSM) last posted its earnings results on Tuesday, September 3rd. The basic materials company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.01). Ferroglobe had a negative net margin of 4.12% and a negative return on equity of 5.69%. The company had revenue of $409.47 million for the quarter, compared to the consensus estimate of $446.01 million. During the same quarter last year, the business earned $0.14 earnings per share. Ferroglobe’s quarterly revenue was down 29.1% on a year-over-year basis. Equities research analysts predict that Ferroglobe will post -0.59 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of GSM. Invesco Ltd. raised its holdings in Ferroglobe by 255.3% during the second quarter. Invesco Ltd. now owns 1,757,843 shares of the basic materials company’s stock valued at $2,988,000 after buying an additional 1,263,094 shares in the last quarter. Formula Growth Ltd. bought a new position in Ferroglobe during the first quarter valued at about $2,044,000. Renaissance Technologies LLC raised its holdings in Ferroglobe by 274.3% during the second quarter. Renaissance Technologies LLC now owns 972,700 shares of the basic materials company’s stock valued at $1,654,000 after buying an additional 712,800 shares in the last quarter. Royce & Associates LP raised its holdings in Ferroglobe by 81.8% during the first quarter. Royce & Associates LP now owns 1,568,900 shares of the basic materials company’s stock valued at $3,216,000 after buying an additional 705,800 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Ferroglobe by 308.6% during the first quarter. Acadian Asset Management LLC now owns 690,786 shares of the basic materials company’s stock valued at $1,414,000 after buying an additional 521,718 shares in the last quarter. Institutional investors own 34.59% of the company’s stock.

A number of analysts recently issued reports on the company. BidaskClub raised Ferroglobe from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 11th. Zacks Investment Research cut Ferroglobe from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. ValuEngine raised Ferroglobe from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, B. Riley set a $5.00 target price on Ferroglobe and gave the company a “buy” rating in a report on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $5.57.

Ferroglobe Company Profile

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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