Ferroglobe (NASDAQ:GSM) Downgraded to Sell Rating by Wall Street Zen

Ferroglobe (NASDAQ:GSM) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Ferroglobe Stock Down 3.3%

GSM opened at $4.05 on Friday. The stock has a market cap of $755.85 million, a PE ratio of -7.11 and a beta of 1.62. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 0.14. Ferroglobe has a 52 week low of $2.97 and a 52 week high of $5.12. The business’s fifty day simple moving average is $4.13 and its 200 day simple moving average is $3.86.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Tuesday, August 5th. The basic materials company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). The firm had revenue of $386.86 million during the quarter, compared to the consensus estimate of $398.00 million. Ferroglobe had a negative net margin of 6.99% and a negative return on equity of 2.85%. As a group, research analysts expect that Ferroglobe will post 0.33 earnings per share for the current fiscal year.

Institutional Trading of Ferroglobe

A number of institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Ferroglobe in the fourth quarter worth about $42,000. LPL Financial LLC purchased a new stake in Ferroglobe in the fourth quarter worth about $42,000. JPMorgan Chase & Co. lifted its holdings in Ferroglobe by 213.3% in the fourth quarter. JPMorgan Chase & Co. now owns 183,035 shares of the basic materials company’s stock worth $696,000 after buying an additional 124,622 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Ferroglobe by 1.2% during the fourth 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 during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Ferroglobe by 47.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 167,570 shares of the basic materials company’s stock valued at $637,000 after purchasing an additional 53,756 shares during the last quarter. 89.64% of the stock is currently owned by hedge funds and other institutional investors.

About Ferroglobe

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.