Ferroglobe (NASDAQ:GSM) Upgraded at Wall Street Zen

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

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Ferroglobe in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce”.

Ferroglobe Price Performance

Shares of GSM opened at $3.93 on Friday. The company has a current ratio of 1.56, a quick ratio of 0.98 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $4.62 and its 200 day simple moving average is $4.22. Ferroglobe has a 1-year low of $2.97 and a 1-year high of $5.74. The company has a market cap of $733.44 million, a price-to-earnings ratio of -6.89 and a beta of 1.83.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The firm had revenue of $311.70 million during the quarter, compared to the consensus estimate of $393.80 million. Ferroglobe had a negative net margin of 6.99% and a negative return on equity of 2.85%. On average, research analysts forecast that Ferroglobe will post 0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ferroglobe

A number of hedge funds and other institutional investors have recently made changes to their positions in GSM. Envestnet Asset Management Inc. raised its holdings in shares of Ferroglobe by 72.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 288,746 shares of the basic materials company’s stock worth $1,071,000 after buying an additional 121,176 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Ferroglobe in the first quarter valued at about $738,000. Brookwood Investment Group LLC bought a new position in Ferroglobe in the first quarter valued at about $114,000. PNC Financial Services Group Inc. bought a new position in Ferroglobe in the first quarter valued at about $38,000. Finally, Legacy Capital Group California Inc. raised its stake in Ferroglobe by 28.0% during the first quarter. Legacy Capital Group California Inc. now owns 82,323 shares of the basic materials company’s stock worth $305,000 after acquiring an additional 18,026 shares in the last quarter. 89.64% of the stock is currently owned by institutional investors and hedge funds.

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.