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 research report issued on Saturday.

Several other brokerages have also recently commented on GSM. Weiss Ratings reiterated a “sell (d)” rating on shares of Ferroglobe in a research report on Thursday, January 22nd. B. Riley Financial reduced their price target on Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Finally, Zacks Research upgraded Ferroglobe from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Ferroglobe has a consensus rating of “Hold” and an average price target of $6.00.

Ferroglobe Trading Up 0.6%

NASDAQ:GSM opened at $5.03 on Friday. The company has a market capitalization of $938.75 million, a P/E ratio of -5.47 and a beta of 1.09. The stock’s 50 day moving average price is $4.92 and its 200 day moving average price is $4.60. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 1.66. Ferroglobe has a 52 week low of $2.97 and a 52 week high of $5.74.

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

Institutional Investors Weigh In On Ferroglobe

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC grew its holdings in Ferroglobe by 168.8% during the 1st quarter. Millennium Management LLC now owns 1,110,759 shares of the basic materials company’s stock worth $4,121,000 after acquiring an additional 697,476 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Ferroglobe by 32.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 331,778 shares of the basic materials company’s stock valued at $1,231,000 after acquiring an additional 81,611 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Ferroglobe by 19.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 17,474 shares of the basic materials company’s stock worth $64,000 after acquiring an additional 2,838 shares in the last quarter. R Squared Ltd purchased a new stake in Ferroglobe during the second quarter worth approximately $38,000. Finally, Envestnet Asset Management Inc. boosted its holdings in Ferroglobe by 14.1% in the second quarter. Envestnet Asset Management Inc. now owns 329,477 shares of the basic materials company’s stock valued at $1,209,000 after purchasing an additional 40,731 shares in the last quarter. Institutional investors and hedge funds own 89.64% of the company’s stock.

About Ferroglobe

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.