Ferroglobe (NASDAQ:GSM) Stock Rating Lowered by Zacks Research

Ferroglobe (NASDAQ:GSM) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

GSM has been the topic of a number of other research reports. Wall Street Zen upgraded Ferroglobe from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Ferroglobe in a research report on Wednesday, October 8th. Finally, B. Riley lowered their target price on Ferroglobe from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Ferroglobe currently has an average rating of “Reduce” and an average target price of $6.00.

Ferroglobe Stock Up 0.8%

NASDAQ:GSM traded up $0.03 on Wednesday, hitting $3.85. 1,530,877 shares of the company’s stock were exchanged, compared to its average volume of 1,302,017. Ferroglobe has a 52 week low of $2.97 and a 52 week high of $5.74. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.56 and a quick ratio of 0.98. The company has a market cap of $718.51 million, a P/E ratio of -6.75 and a beta of 1.83. The firm has a 50-day moving average price of $4.59 and a 200-day moving average price of $4.23.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The business had revenue of $311.70 million for the quarter, compared to analyst estimates of $393.80 million. Ferroglobe had a negative return on equity of 2.85% and a negative net margin of 6.99%. As a group, analysts expect that Ferroglobe will post 0.33 EPS for the current fiscal year.

Institutional Trading of Ferroglobe

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC grew its position in Ferroglobe by 14.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 19,968 shares of the basic materials company’s stock worth $91,000 after acquiring an additional 2,494 shares in the last quarter. R Squared Ltd raised its stake in shares of Ferroglobe by 35.8% in the third quarter. R Squared Ltd now owns 13,941 shares of the basic materials company’s stock worth $63,000 after purchasing an additional 3,677 shares during the last quarter. SummerHaven Investment Management LLC raised its position in Ferroglobe by 2.9% during the second quarter. SummerHaven Investment Management LLC now owns 140,675 shares of the basic materials company’s stock valued at $516,000 after acquiring an additional 3,919 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Ferroglobe in the third quarter valued at approximately $32,000. Finally, California State Teachers Retirement System purchased a new position in Ferroglobe in the 2nd quarter valued at $27,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Ferroglobe Company Profile

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.