Ferroglobe (NASDAQ:GSM) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Ferroglobe PLC (NASDAQ:GSM)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.68 and traded as high as $4.96. Ferroglobe shares last traded at $4.84, with a volume of 1,174,033 shares.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GSM shares. Zacks Research upgraded shares of Ferroglobe from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Wall Street Zen upgraded Ferroglobe from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. B. Riley Financial reduced their price objective on Ferroglobe from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ferroglobe in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Ferroglobe presently has an average rating of “Hold” and an average price target of $6.00.

Ferroglobe Trading Up 5.4%

The firm has a market cap of $903.29 million, a PE ratio of -5.26 and a beta of 0.93. The company has a quick ratio of 0.97, a current ratio of 1.66 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average price is $5.00 and its two-hundred day moving average price is $4.68.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings results on Tuesday, February 17th. The basic materials company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. Ferroglobe had a negative net margin of 12.78% and a negative return on equity of 8.65%. The company had revenue of $329.38 million for the quarter, compared to the consensus estimate of $293.60 million. As a group, sell-side analysts forecast that Ferroglobe PLC will post 0.33 EPS for the current year.

Ferroglobe Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 23rd will be paid a dividend of $0.015 per share. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, March 23rd. Ferroglobe’s payout ratio is currently -6.52%.

Institutional Investors Weigh In On Ferroglobe

A number of institutional investors and hedge funds have recently modified their holdings of GSM. State of Alaska Department of Revenue bought a new position in Ferroglobe in the 3rd quarter valued at $32,000. California State Teachers Retirement System bought a new stake in shares of Ferroglobe during the second quarter worth $27,000. Quadrant Capital Group LLC lifted its position in shares of Ferroglobe by 66.1% during the fourth quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 3,146 shares during the last quarter. Spire Wealth Management boosted its stake in shares of Ferroglobe by 49.0% during the fourth quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 2,740 shares during the period. Finally, Highland Capital Management LLC purchased a new stake in shares of Ferroglobe during the fourth quarter valued at $46,000. 89.64% of the stock is owned by institutional investors.

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.