Ferroglobe (GSM) Sees Large Volume Increase

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.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Monday, May 21st. The basic materials company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. Ferroglobe had a return on equity of 6.86% and a net margin of 3.59%. The firm had revenue of $560.70 million during the quarter, compared to analysts’ expectations of $559.12 million. equities analysts forecast that Ferroglobe PLC will post 0.87 EPS for the current fiscal year.

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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