Short Interest in Ferroglobe PLC (NASDAQ:GSM) Declines By 25.9%
by Michael Walen · The Markets DailyFerroglobe PLC (NASDAQ:GSM – Get Free Report) was the recipient of a large decrease in short interest in January. As of January 30th, there was short interest totaling 3,158,532 shares, a decrease of 25.9% from the January 15th total of 4,261,724 shares. Approximately 1.9% of the shares of the company are short sold. Based on an average trading volume of 1,225,533 shares, the short-interest ratio is currently 2.6 days. Based on an average trading volume of 1,225,533 shares, the short-interest ratio is currently 2.6 days. Approximately 1.9% of the shares of the company are short sold.
Wall Street Analysts Forecast Growth
GSM has been the topic of a number of analyst reports. Zacks Research raised shares of Ferroglobe from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. B. Riley Financial lowered their price objective on Ferroglobe from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Weiss Ratings restated a “sell (d)” rating on shares of Ferroglobe in a research report on Thursday, January 22nd. Finally, Wall Street Zen lowered Ferroglobe from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $6.00.
View Our Latest Research Report on Ferroglobe
Ferroglobe Stock Performance
GSM stock traded down $0.02 during midday trading on Friday, reaching $5.28. 1,545,977 shares of the company’s stock traded hands, compared to its average volume of 1,148,560. The company has a 50-day simple moving average of $4.87 and a two-hundred day simple moving average of $4.57. The company has a current ratio of 1.66, a quick ratio of 0.91 and a debt-to-equity ratio of 0.07. Ferroglobe has a 1-year low of $2.97 and a 1-year high of $5.74.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in GSM. Millennium Management LLC increased its position in Ferroglobe by 168.8% in the 1st quarter. Millennium Management LLC now owns 1,110,759 shares of the basic materials company’s stock valued at $4,121,000 after acquiring an additional 697,476 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Ferroglobe by 32.6% during the first quarter. Goldman Sachs Group Inc. now owns 331,778 shares of the basic materials company’s stock valued at $1,231,000 after purchasing an additional 81,611 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Ferroglobe by 19.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 17,474 shares of the basic materials company’s stock valued at $64,000 after purchasing an additional 2,838 shares in the last quarter. R Squared Ltd bought a new position in Ferroglobe in the 2nd quarter worth approximately $38,000. Finally, Envestnet Asset Management Inc. raised its position in Ferroglobe by 14.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 329,477 shares of the basic materials company’s stock worth $1,209,000 after purchasing an additional 40,731 shares during the last quarter. Institutional investors and hedge funds 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.