Ferroglobe (NASDAQ:GSM) Trading Down 10.9%

Ferroglobe PLC (NASDAQ:GSMGet Rating) shares traded down 10.9% during mid-day trading on Thursday . The company traded as low as $5.96 and last traded at $5.96. 31,335 shares were traded during mid-day trading, a decline of 98% from the average session volume of 1,307,555 shares. The stock had previously closed at $6.69.

A number of brokerages recently commented on GSM. StockNews.com raised shares of Ferroglobe from a “hold” rating to a “buy” rating in a research note on Monday, May 23rd. TheStreet upgraded shares of Ferroglobe from a “d” rating to a “c-” rating in a report on Thursday, March 3rd.

The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 9.34 and a beta of 2.45. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.48 and a quick ratio of 0.97. The business’s fifty day simple moving average is $7.18 and its 200 day simple moving average is $6.88.

Ferroglobe (NASDAQ:GSMGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The basic materials company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.15. The business had revenue of $715.27 million for the quarter, compared to analysts’ expectations of $749.00 million. Ferroglobe had a net margin of 5.76% and a return on equity of 43.57%. During the same period in the previous year, the business earned ($0.24) earnings per share. As a group, equities analysts forecast that Ferroglobe PLC will post 2.52 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Walleye Capital LLC grew its position in Ferroglobe by 114.5% in the first quarter. Walleye Capital LLC now owns 93,441 shares of the basic materials company’s stock valued at $719,000 after acquiring an additional 49,873 shares during the period. Walleye Trading LLC grew its holdings in shares of Ferroglobe by 77.3% during the first quarter. Walleye Trading LLC now owns 25,746 shares of the basic materials company’s stock worth $198,000 after buying an additional 11,223 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Ferroglobe during the first quarter worth about $144,000. Portolan Capital Management LLC bought a new position in Ferroglobe in the first quarter valued at approximately $5,182,000. Finally, Royal Bank of Canada boosted its stake in shares of Ferroglobe by 1,379.7% during the 1st quarter. Royal Bank of Canada now owns 11,379 shares of the basic materials company’s stock worth $88,000 after acquiring an additional 10,610 shares during the period. Institutional investors own 31.18% of the company’s stock.

Ferroglobe Company Profile (NASDAQ:GSM)

Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. The company offers silicone chemicals that are 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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