Ferroglobe (NASDAQ:GSM) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Ferroglobe PLC (NASDAQ:GSM) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.10 and traded as high as $5.16. Ferroglobe shares last traded at $4.90, with a volume of 2,102,492 shares traded.

Analyst Upgrades and Downgrades

GSM has been the topic of a number of recent research reports. Wall Street Zen cut Ferroglobe from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings restated a “sell (d)” rating on shares of Ferroglobe in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Ferroglobe currently has an average rating of “Reduce”.

Ferroglobe Stock Performance

The company has a quick ratio of 0.98, a current ratio of 1.56 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $914.49 million, a P/E ratio of -8.60 and a beta of 1.85. The business has a fifty day moving average price of $4.50 and a 200-day moving average price of $4.10.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings data on Tuesday, August 5th. The basic materials company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.06). Ferroglobe had a negative return on equity of 2.85% and a negative net margin of 6.99%.The business had revenue of $386.86 million during the quarter, compared to the consensus estimate of $398.00 million. On average, sell-side analysts expect that Ferroglobe PLC will post 0.33 EPS for the current year.

Ferroglobe Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were issued a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, September 22nd. Ferroglobe’s payout ratio is presently -10.53%.

Institutional Investors Weigh In On Ferroglobe

Large investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System purchased a new stake in Ferroglobe during the 2nd quarter valued at $27,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Ferroglobe in the first quarter worth $37,000. BNP Paribas Financial Markets increased its position in Ferroglobe by 1,017,300.0% during the second quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 10,173 shares during the last quarter. PNC Financial Services Group Inc. purchased a new stake in Ferroglobe during the first quarter valued at $38,000. Finally, R Squared Ltd bought a new position in Ferroglobe in the second quarter valued at about $38,000. Institutional investors own 89.64% of the company’s stock.

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.