Shares of Ferroglobe PLC (NASDAQ:GSM – Get Rating) dropped 5.6% on Tuesday . The stock traded as low as $6.06 and last traded at $6.09. Approximately 10,763 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 1,322,114 shares. The stock had previously closed at $6.45.
Analyst Ratings Changes
GSM has been the subject of several research reports. StockNews.com upgraded Ferroglobe from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 25th. B. Riley assumed coverage on Ferroglobe in a research note on Wednesday, September 14th. They set a "buy" rating and a $12.00 price objective for the company.
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Ferroglobe Price Performance
The stock's fifty day moving average is $6.37 and its 200-day moving average is $6.87. The stock has a market capitalization of $1.14 billion, a PE ratio of 3.82 and a beta of 2.25. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.91 and a quick ratio of 1.28.
Institutional Trading of Ferroglobe
A number of hedge funds have recently added to or reduced their stakes in GSM. Counterpoint Mutual Funds LLC acquired a new position in Ferroglobe during the first quarter worth $66,000. Royal Bank of Canada increased its position in Ferroglobe by 1,379.7% during the first quarter. Royal Bank of Canada now owns 11,379 shares of the basic materials company's stock worth $88,000 after purchasing an additional 10,610 shares during the last quarter. Keebeck Alpha LP acquired a new stake in Ferroglobe during the first quarter worth about $91,000. Virtu Financial LLC acquired a new stake in Ferroglobe during the first quarter worth about $144,000. Finally, Qube Research & Technologies Ltd acquired a new stake in Ferroglobe during the first quarter worth about $168,000. 40.06% of the stock is owned by hedge funds and other institutional investors.
Ferroglobe Company Profile
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Ferroglobe PLC is a holding company, which engages in the production of silicon and specialty metals. Its products include silicon metal, manganese alloys, ferrosilicon, calcium silicon, and electrodes. It operates through the following segments: Electrometallurgy-North America, Electrometallurgy-Europe, Electrometallurgy-South Africa, and Other.
Further Reading
- Get a free copy of the StockNews.com research report on Ferroglobe (GSM)
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