Separately, Zacks Investment Research cut shares of Ferroglobe from a buy rating to a hold rating in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $2.82.
NASDAQ GSM traded down $0.15 during trading on Wednesday, reaching $1.00. The company’s stock had a trading volume of 24,206 shares, compared to its average volume of 408,044. The company has a current ratio of 1.76, a quick ratio of 0.96 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $186.04 million, a PE ratio of 3.57 and a beta of 2.32. Ferroglobe has a 1-year low of $0.51 and a 1-year high of $3.01. The business has a 50-day moving average price of $0.86 and a 200-day moving average price of $1.08.
Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings results on Monday, December 2nd. The basic materials company reported ($0.10) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.08. The company had revenue of $381.75 million for the quarter, compared to analyst estimates of $397.30 million. Ferroglobe had a negative net margin of 11.96% and a negative return on equity of 8.27%. As a group, analysts expect that Ferroglobe will post -0.61 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC increased its holdings in shares of Ferroglobe by 69.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 19,561 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 8,033 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Ferroglobe by 25.0% during the second quarter. Russell Investments Group Ltd. now owns 38,418 shares of the basic materials company’s stock worth $65,000 after purchasing an additional 7,676 shares during the period. Citadel Advisors LLC boosted its position in Ferroglobe by 211.6% during the second quarter. Citadel Advisors LLC now owns 72,635 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 137,735 shares during the period. Wells Fargo & Company MN boosted its position in Ferroglobe by 14.0% during the second quarter. Wells Fargo & Company MN now owns 97,018 shares of the basic materials company’s stock worth $165,000 after purchasing an additional 11,947 shares during the period. Finally, Millennium Management LLC grew its holdings in Ferroglobe by 1,557.9% during the third quarter. Millennium Management LLC now owns 397,262 shares of the basic materials company’s stock valued at $448,000 after purchasing an additional 373,300 shares during the last quarter. Institutional investors own 30.88% of the company’s stock.
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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