Ferroglobe (NASDAQ:GSM) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Ferroglobe PLC (NASDAQ:GSM) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $4.42 and traded as high as $4.92. Ferroglobe shares last traded at $4.84, with a volume of 716,290 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GSM shares. Weiss Ratings restated a “sell (d)” rating on shares of Ferroglobe in a research report on Wednesday, October 8th. Wall Street Zen lowered Ferroglobe from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. B. Riley lowered their target price on Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Finally, Zacks Research lowered shares of Ferroglobe from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Ferroglobe has an average rating of “Reduce” and a consensus target price of $6.00.

Ferroglobe Stock Down 0.6%

The company has a quick ratio of 0.91, a current ratio of 1.66 and a debt-to-equity ratio of 0.07. The company has a market cap of $903.27 million, a P/E ratio of -6.54 and a beta of 1.08. The company has a fifty day moving average of $4.43 and a 200 day moving average of $4.42.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). Ferroglobe had a negative return on equity of 6.13% and a negative net margin of 9.92%.The firm had revenue of $311.70 million during the quarter, compared to analysts’ expectations of $393.80 million. On average, research analysts anticipate that Ferroglobe PLC will post 0.33 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 22nd were given a $0.014 dividend. This represents a $0.06 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, December 22nd. Ferroglobe’s payout ratio is presently -6.76%.

Institutional Trading of Ferroglobe

Several institutional investors have recently made changes to their positions in GSM. FNY Investment Advisers LLC bought a new stake in Ferroglobe in the 3rd quarter valued at $373,000. CIBC Bancorp USA Inc. purchased a new position in shares of Ferroglobe during the third quarter valued at about $58,000. Coldstream Capital Management Inc. bought a new stake in shares of Ferroglobe in the third quarter worth about $52,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Ferroglobe in the third quarter worth about $3,231,000. Finally, Verition Fund Management LLC lifted its position in shares of Ferroglobe by 50.3% in the third quarter. Verition Fund Management LLC now owns 176,466 shares of the basic materials company’s stock worth $803,000 after buying an additional 59,045 shares in the last quarter. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Ferroglobe Company Profile

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company’s core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe’s product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.