Ferroglobe PLC (NASDAQ:GSM) Sees Significant Decline in Short Interest

Ferroglobe PLC (NASDAQ:GSM) saw a large decline in short interest during the month of January. As of January 30th, there was short interest totaling 3,158,532 shares, a decline of 25.9% from the January 15th total of 4,261,724 shares. Currently, 1.9% of the shares of the company are sold short. Based on an average daily volume of 1,225,533 shares, the short-interest ratio is presently 2.6 days. Based on an average daily volume of 1,225,533 shares, the short-interest ratio is presently 2.6 days. Currently, 1.9% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GSM. Weiss Ratings reissued a “sell (d)” rating on shares of Ferroglobe in a research report on Thursday, January 22nd. Zacks Research raised Ferroglobe from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. B. Riley Financial dropped their target price on Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Finally, Wall Street Zen cut shares of Ferroglobe from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.00.

Ferroglobe Stock Performance

Shares of Ferroglobe stock opened at $5.28 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.66 and a quick ratio of 0.91. The firm has a market capitalization of $985.39 million, a P/E ratio of -7.14 and a beta of 1.09. Ferroglobe has a fifty-two week low of $2.97 and a fifty-two week high of $5.74. The company’s 50 day moving average price is $4.87 and its two-hundred day moving average price is $4.57.

Institutional Investors Weigh In On Ferroglobe

A number of large investors have recently bought and sold shares of GSM. State of Alaska Department of Revenue bought a new stake in Ferroglobe in the 3rd quarter valued at about $32,000. California State Teachers Retirement System acquired a new position in Ferroglobe during the 2nd quarter valued at about $27,000. Quadrant Capital Group LLC grew its holdings in Ferroglobe by 66.1% during the fourth quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company’s stock worth $37,000 after buying an additional 3,146 shares in the last quarter. Spire Wealth Management lifted its stake in Ferroglobe by 49.0% during the 4th quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 2,740 shares in the last quarter. Finally, Highland Capital Management LLC purchased a new position in Ferroglobe during the 4th quarter worth $46,000. 89.64% of the stock is currently owned by institutional investors and hedge funds.

About Ferroglobe

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company’s core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe’s product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.