Ferroglobe PLC (NASDAQ:GSM) Short Interest Down 8.0% in July

Ferroglobe PLC (NASDAQ:GSM) saw a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 1,738,200 shares, a decrease of 8.0% from the June 30th total of 1,889,700 shares. Based on an average trading volume of 514,000 shares, the short-interest ratio is currently 3.4 days. Currently, 2.2% of the shares of the stock are short sold.

Large investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC lifted its stake in Ferroglobe by 69.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 19,561 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 8,033 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Ferroglobe by 25.0% during the second quarter. Russell Investments Group Ltd. now owns 38,418 shares of the basic materials company’s stock valued at $65,000 after acquiring an additional 7,676 shares during the last quarter. Miracle Mile Advisors LLC bought a new position in shares of Ferroglobe during the first quarter valued at $126,000. Legal & General Group Plc raised its stake in shares of Ferroglobe by 339.8% during the fourth quarter. Legal & General Group Plc now owns 65,900 shares of the basic materials company’s stock valued at $105,000 after acquiring an additional 50,915 shares during the last quarter. Finally, Citadel Advisors LLC raised its stake in shares of Ferroglobe by 211.6% during the second quarter. Citadel Advisors LLC now owns 72,635 shares of the basic materials company’s stock valued at $123,000 after acquiring an additional 137,735 shares during the last quarter. 37.67% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on the stock. BidaskClub raised shares of Ferroglobe from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 11th. ValuEngine raised shares of Ferroglobe from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. B. Riley set a $5.00 price objective on shares of Ferroglobe and gave the company a “buy” rating in a research note on Wednesday, June 5th. Finally, Zacks Investment Research downgraded shares of Ferroglobe from a “hold” rating to a “strong sell” rating in a research note on Friday, June 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $5.57.

NASDAQ:GSM traded down $0.09 on Thursday, hitting $1.20. The company had a trading volume of 483,600 shares, compared to its average volume of 746,752. The stock has a market capitalization of $221.55 million, a price-to-earnings ratio of 4.29 and a beta of 2.27. The company has a current ratio of 1.74, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $1.58 and a two-hundred day moving average of $1.95. Ferroglobe has a 52 week low of $1.16 and a 52 week high of $8.64.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings data on Monday, June 3rd. The basic materials company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.02). The company had revenue of $456.79 million during the quarter, compared to the consensus estimate of $481.09 million. Ferroglobe had a net margin of 1.20% and a negative return on equity of 0.37%. Ferroglobe’s revenue for the quarter was down 18.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 EPS. As a group, equities analysts forecast that Ferroglobe will post -0.52 EPS for the current year.

About Ferroglobe

Ferroglobe PLC engages in the production of silicon metal, silicon-based specialty alloys, and ferroalloys. It operates through the following segments: Electrometallurgy-North America, Electrometallurgy-Europe, Electrometallurgy-South Africa, and Other. The company was founded on February 5, 2015 and is headquartered in London, the United Kingdom.

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