Shares of Ferroglobe PLC (NASDAQ:GSM) saw unusually-high trading volume on Thursday . Approximately 6,754,900 shares traded hands during mid-day trading, an increase of 733% from the previous session’s volume of 811,230 shares.The stock last traded at $7.21 and had previously closed at $6.83.
GSM has been the subject of several recent research reports. TheStreet cut Ferroglobe from a “c-” rating to a “d+” rating in a research note on Friday, June 29th. ValuEngine upgraded Ferroglobe from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Zacks Investment Research cut Ferroglobe from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 25th. Stifel Nicolaus cut their target price on Ferroglobe from $19.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, July 13th. Finally, BidaskClub upgraded Ferroglobe from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 23rd. Three analysts have rated the stock with a sell rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $15.33.
The company has a debt-to-equity ratio of 0.49, a current ratio of 1.54 and a quick ratio of 0.66. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 55.46 and a beta of 1.50.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bayesian Capital Management LP bought a new stake in Ferroglobe during the first quarter worth $110,000. Clinton Group Inc. acquired a new position in shares of Ferroglobe during the first quarter worth $116,000. Stevens Capital Management LP acquired a new position in shares of Ferroglobe during the second quarter worth $118,000. Trexquant Investment LP acquired a new position in shares of Ferroglobe during the first quarter worth $125,000. Finally, Paloma Partners Management Co acquired a new position in shares of Ferroglobe during the second quarter worth $161,000. Hedge funds and other institutional investors own 42.25% of the company’s stock.
About Ferroglobe (NASDAQ:GSM)
Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. The company offers silicone chemicals used in a range of applications, including personal care items, construction-related products, health care products, and electronics, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.
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