Ferroglobe PLC (NASDAQ:GSM) Short Interest Update

by · The Markets Daily

Ferroglobe PLC (NASDAQ:GSM – Get Free Report) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 5,371,891 shares, a drop of 18.5% from the December 15th total of 6,591,738 shares. Currently, 3.3% of the company’s stock are short sold. Based on an average daily volume of 851,048 shares, the short-interest ratio is presently 6.3 days. Based on an average daily volume of 851,048 shares, the short-interest ratio is presently 6.3 days. Currently, 3.3% of the company’s stock are short sold.

Institutional Investors Weigh In On Ferroglobe

Several hedge funds and other institutional investors have recently bought and sold shares of GSM. Geode Capital Management LLC boosted its stake in Ferroglobe by 1,068.3% in the second quarter. Geode Capital Management LLC now owns 1,558,383 shares of the basic materials company’s stock valued at $5,719,000 after acquiring an additional 1,424,998 shares in the last quarter. Bridgeway Capital Management LLC purchased a new stake in shares of Ferroglobe in the 3rd quarter valued at about $5,872,000. Donald Smith & CO. Inc. boosted its position in shares of Ferroglobe by 19.8% in the 2nd quarter. Donald Smith & CO. Inc. now owns 7,811,120 shares of the basic materials company’s stock valued at $28,667,000 after purchasing an additional 1,288,610 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Ferroglobe in the 3rd quarter valued at about $3,231,000. Finally, Millennium Management LLC grew its stake in Ferroglobe by 168.8% during the 1st quarter. Millennium Management LLC now owns 1,110,759 shares of the basic materials company’s stock worth $4,121,000 after buying an additional 697,476 shares during the last quarter. 89.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GSM has been the topic of several recent research reports. B. Riley cut their price target on Ferroglobe from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Wall Street Zen cut Ferroglobe from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Zacks Research raised Ferroglobe from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ferroglobe in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ferroglobe has a consensus rating of “Hold” and a consensus price target of $6.00.

Get Our Latest Stock Analysis on GSM

Ferroglobe Stock Down 7.2%

Shares of GSM traded down $0.38 during mid-day trading on Monday, reaching $4.93. The company’s stock had a trading volume of 2,251,793 shares, compared to its average volume of 828,058. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.66 and a quick ratio of 0.91. Ferroglobe has a 12-month low of $2.97 and a 12-month high of $5.74. The stock has a market cap of $920.09 million, a PE ratio of -6.66 and a beta of 1.08. The company’s 50 day moving average is $4.51 and its 200 day moving average is $4.49.

Ferroglobe (NASDAQ:GSM – Get Free Report) last posted its earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.07). The business had revenue of $311.70 million for the quarter, compared to analysts’ expectations of $393.80 million. Ferroglobe had a negative return on equity of 6.13% and a negative net margin of 9.92%. Equities analysts anticipate that Ferroglobe will post 0.33 EPS for the current fiscal year.

Ferroglobe Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 22nd were issued a $0.014 dividend. The ex-dividend date was Monday, December 22nd. This represents a $0.06 annualized dividend and a dividend yield of 1.1%. Ferroglobe’s dividend payout ratio is presently -8.11%.

About Ferroglobe

(Get Free Report)

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.

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