Ferroglobe (NASDAQ:GSM) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Ferroglobe PLC (NASDAQ:GSM)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.80 and traded as high as $3.87. Ferroglobe shares last traded at $3.70, with a volume of 1,598,688 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Seaport Res Ptn lowered shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a report on Monday, February 24th. Wall Street Zen upgraded Ferroglobe from a “sell” rating to a “hold” rating in a report on Saturday, May 31st.

Ferroglobe Stock Performance

The firm’s fifty day moving average price is $3.73 and its 200 day moving average price is $3.80. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $690.52 million, a price-to-earnings ratio of -11.21 and a beta of 1.58.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.08). Ferroglobe had a positive return on equity of 1.93% and a negative net margin of 3.80%. The firm had revenue of $307.18 million for the quarter, compared to analyst estimates of $336.00 million. Analysts forecast that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.

Ferroglobe Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.014 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.06 annualized dividend and a dividend yield of 1.51%. Ferroglobe’s dividend payout ratio is presently -15.15%.

Institutional Investors Weigh In On Ferroglobe

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in Ferroglobe by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 225,629 shares of the basic materials company’s stock valued at $857,000 after purchasing an additional 2,760 shares in the last quarter. SummerHaven Investment Management LLC raised its position in Ferroglobe by 2.8% in the 1st quarter. SummerHaven Investment Management LLC now owns 136,756 shares of the basic materials company’s stock valued at $507,000 after purchasing an additional 3,697 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Ferroglobe by 48.9% in the fourth quarter. New York State Common Retirement Fund now owns 22,143 shares of the basic materials company’s stock valued at $84,000 after acquiring an additional 7,271 shares in the last quarter. Qtron Investments LLC raised its holdings in Ferroglobe by 49.7% in the fourth quarter. Qtron Investments LLC now owns 22,268 shares of the basic materials company’s stock valued at $85,000 after acquiring an additional 7,396 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in Ferroglobe by 23.0% in the fourth quarter. XTX Topco Ltd now owns 39,653 shares of the basic materials company’s stock valued at $151,000 after acquiring an additional 7,427 shares in the last quarter. 89.64% of the stock is currently owned by institutional investors and hedge funds.

Ferroglobe Company Profile

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics; and silicon metal for primary and secondary aluminum producers.