Ferroglobe PLC (NASDAQ:GSM) Short Interest Update

Ferroglobe PLC (NASDAQ:GSM) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 2,681,653 shares, a decrease of 34.6% from the March 15th total of 4,099,367 shares. Approximately 1.7% of the shares of the stock are sold short. Based on an average trading volume of 1,627,852 shares, the days-to-cover ratio is presently 1.6 days.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GSM shares. Wall Street Zen upgraded Ferroglobe from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Zacks Research raised Ferroglobe from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ferroglobe in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.00.

Insiders Place Their Bets

In related news, Director De Fuentes Silvia Villar-Mir bought 26,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was purchased at an average cost of $3.86 per share, for a total transaction of $100,360.00. Following the transaction, the director owned 121,226 shares in the company, valued at $467,932.36. The trade was a 27.30% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Madrid Javier Lopez bought 26,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were bought at an average price of $3.86 per share, with a total value of $100,360.00. Following the completion of the transaction, the chairman owned 147,200 shares in the company, valued at approximately $568,192. This trade represents a 21.45% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 13.07% of the company’s stock.

Hedge Funds Weigh In On Ferroglobe

Institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System acquired a new position in Ferroglobe in the 2nd quarter worth about $27,000. State of Alaska Department of Revenue bought a new stake in shares of Ferroglobe in the 3rd quarter valued at about $32,000. Quadrant Capital Group LLC grew its position in shares of Ferroglobe by 66.1% in the 4th quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company’s stock valued at $37,000 after buying an additional 3,146 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Ferroglobe by 1,017,300.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock valued at $37,000 after buying an additional 10,173 shares during the last quarter. Finally, Spire Wealth Management grew its position in shares of Ferroglobe by 49.0% in the 4th quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock valued at $39,000 after buying an additional 2,740 shares during the last quarter. Institutional investors and hedge funds own 89.64% of the company’s stock.

Ferroglobe Price Performance

GSM traded up $0.17 on Wednesday, reaching $4.52. The stock had a trading volume of 874,677 shares, compared to its average volume of 1,170,922. Ferroglobe has a fifty-two week low of $3.04 and a fifty-two week high of $5.74. The firm has a 50-day moving average of $4.62 and a 200-day moving average of $4.67. The company has a current ratio of 1.66, a quick ratio of 0.97 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $843.57 million, a price-to-earnings ratio of -4.91 and a beta of 1.02.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Saturday, February 14th. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Ferroglobe had a negative return on equity of 8.65% and a negative net margin of 12.78%.The business had revenue of $329.38 million during the quarter, compared to analysts’ expectations of $293.60 million. As a group, sell-side analysts anticipate that Ferroglobe will post 0.33 EPS for the current year.

Ferroglobe Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 23rd were issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, March 23rd. This is a boost from Ferroglobe’s previous quarterly dividend of $0.01. Ferroglobe’s payout ratio is currently -6.52%.

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.