Weiss Ratings Reiterates Sell (D) Rating for Ferroglobe (NASDAQ:GSM)

Ferroglobe (NASDAQ:GSM)‘s stock had its “sell (d)” rating reiterated by analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen downgraded Ferroglobe from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Ferroglobe Stock Up 2.7%

Shares of NASDAQ GSM opened at $5.27 on Wednesday. Ferroglobe has a 52-week low of $2.97 and a 52-week high of $5.38. The firm has a fifty day moving average of $4.29 and a 200-day moving average of $4.00. The stock has a market capitalization of $983.54 million, a PE ratio of -9.25 and a beta of 1.85. The company has a quick ratio of 0.98, a current ratio of 1.56 and a debt-to-equity ratio of 0.14.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Tuesday, August 5th. The basic materials company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The company had revenue of $386.86 million for the quarter, compared to analysts’ expectations of $398.00 million. Ferroglobe had a negative net margin of 6.99% and a negative return on equity of 2.85%. On average, analysts anticipate that Ferroglobe will post 0.33 EPS for the current year.

Hedge Funds Weigh In On Ferroglobe

Hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System purchased a new position in shares of Ferroglobe in the 2nd quarter valued at $27,000. Creative Financial Designs Inc. ADV purchased a new stake in Ferroglobe during the 1st quarter worth $37,000. BNP Paribas Financial Markets increased its stake in Ferroglobe by 1,017,300.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock worth $37,000 after buying an additional 10,173 shares during the period. PNC Financial Services Group Inc. purchased a new stake in Ferroglobe during the 1st quarter worth $38,000. Finally, R Squared Ltd purchased a new stake in Ferroglobe during the 2nd quarter worth $38,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

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.