Ferroglobe (NASDAQ:GSM) Sees Large Volume Increase

Ferroglobe PLC (NASDAQ:GSMGet Rating) shares saw an uptick in trading volume on Wednesday . 19,373 shares traded hands during trading, a decline of 98% from the previous session’s volume of 1,254,227 shares.The stock last traded at $7.30 and had previously closed at $6.80.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GSM. B. Riley began coverage on Ferroglobe in a report on Wednesday. They set a “buy” rating and a $12.00 price target for the company. StockNews.com upgraded Ferroglobe from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 25th.

Ferroglobe Stock Down 4.2 %

The business has a 50 day moving average of $6.35 and a 200 day moving average of $6.91. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.91 and a quick ratio of 1.28. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 4.28 and a beta of 2.25.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Rubric Capital Management LP raised its stake in shares of Ferroglobe by 36.5% in the fourth quarter. Rubric Capital Management LP now owns 13,648,711 shares of the basic materials company’s stock valued at $84,758,000 after purchasing an additional 3,648,711 shares in the last quarter. Wolf Hill Capital Management LP raised its stake in shares of Ferroglobe by 15.0% in the second quarter. Wolf Hill Capital Management LP now owns 4,957,800 shares of the basic materials company’s stock valued at $29,449,000 after purchasing an additional 645,540 shares in the last quarter. Marshall Wace LLP grew its position in Ferroglobe by 718.6% in the fourth quarter. Marshall Wace LLP now owns 4,471,252 shares of the basic materials company’s stock valued at $27,766,000 after acquiring an additional 3,925,063 shares during the period. Cannell & Co. grew its position in Ferroglobe by 19.3% in the second quarter. Cannell & Co. now owns 4,379,105 shares of the basic materials company’s stock valued at $26,012,000 after acquiring an additional 709,600 shares during the period. Finally, Renaissance Technologies LLC grew its position in Ferroglobe by 5.5% in the fourth quarter. Renaissance Technologies LLC now owns 3,462,294 shares of the basic materials company’s stock valued at $21,501,000 after acquiring an additional 179,100 shares during the period. 40.06% of the stock is currently owned by institutional investors and hedge funds.

About Ferroglobe

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Ferroglobe PLC is a holding company, which engages in the production of silicon and specialty metals. Its products include silicon metal, manganese alloys, ferrosilicon, calcium silicon, and electrodes. It operates through the following segments: Electrometallurgy-North America, Electrometallurgy-Europe, Electrometallurgy-South Africa, and Other.

Further Reading

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