Ferroglobe (NASDAQ:GSM) Stock Rating Lowered by Wall Street Zen

Ferroglobe (NASDAQ:GSM) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Separately, Weiss Ratings lowered shares of Ferroglobe from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $6.00.

Ferroglobe Trading Down 2.3%

NASDAQ GSM opened at $4.29 on Friday. The firm has a 50 day simple moving average of $3.63 and a 200-day simple moving average of $4.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.29. Ferroglobe has a one year low of $3.08 and a one year high of $5.74. The firm has a market cap of $800.64 million, a price-to-earnings ratio of -19.50 and a beta of 1.02.

Hedge Funds Weigh In On Ferroglobe

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hosking Partners LLP increased its stake in shares of Ferroglobe by 3.1% during the fourth quarter. Hosking Partners LLP now owns 11,215,616 shares of the basic materials company’s stock worth $52,040,000 after buying an additional 341,194 shares during the period. Bastion Asset Management Inc. purchased a new position in Ferroglobe in the first quarter worth approximately $4,155,000. Sei Investments Co. grew its holdings in Ferroglobe by 67.0% during the 1st quarter. Sei Investments Co. now owns 639,440 shares of the basic materials company’s stock worth $2,634,000 after acquiring an additional 256,449 shares in the last quarter. CenterBook Partners LP grew its holdings in Ferroglobe by 59.1% during the 4th quarter. CenterBook Partners LP now owns 1,474,228 shares of the basic materials company’s stock worth $6,840,000 after acquiring an additional 547,847 shares in the last quarter. Finally, West Tower Group LLC acquired a new position in Ferroglobe during the 4th quarter worth approximately $581,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Ferroglobe Company Profile

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.