Ferroglobe Sees Unusually High Options Volume (NASDAQ:GSM)

Ferroglobe PLC (NASDAQ:GSM) saw unusually large options trading activity on Friday. Investors acquired 6,250 put options on the stock. This is an increase of 378% compared to the average daily volume of 1,307 put options.

Analysts Set New Price Targets

GSM has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Ferroglobe in a research note on Wednesday, October 8th. Zacks Research cut Ferroglobe from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 12th. Wall Street Zen lowered Ferroglobe from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Finally, B. Riley lowered their price target on Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Ferroglobe presently has an average rating of “Reduce” and a consensus target price of $6.00.

Ferroglobe Stock Performance

Shares of NASDAQ:GSM traded up $0.25 during trading on Friday, hitting $4.44. 576,913 shares of the company traded hands, compared to its average volume of 1,345,196. The stock has a market capitalization of $827.69 million, a price-to-earnings ratio of -7.80 and a beta of 1.83. The business’s fifty day moving average is $4.56 and its 200-day moving average is $4.26. Ferroglobe has a one year low of $2.97 and a one year high of $5.74. The company has a quick ratio of 0.98, a current ratio of 1.56 and a debt-to-equity ratio of 0.14.

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

Ferroglobe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Shareholders of record on Monday, December 22nd will be paid a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, December 22nd. Ferroglobe’s dividend payout ratio (DPR) is presently -6.76%.

Hedge Funds Weigh In On Ferroglobe

Several institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in Ferroglobe by 820.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 341,479 shares of the basic materials company’s stock valued at $1,267,000 after purchasing an additional 304,381 shares during the period. Maven Securities LTD increased its stake in shares of Ferroglobe by 168.1% in the first quarter. Maven Securities LTD now owns 107,228 shares of the basic materials company’s stock valued at $398,000 after purchasing an additional 67,228 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Ferroglobe by 72.3% during the first quarter. Envestnet Asset Management Inc. now owns 288,746 shares of the basic materials company’s stock valued at $1,071,000 after buying an additional 121,176 shares during the last quarter. Old West Investment Management LLC boosted its position in shares of Ferroglobe by 58.7% during the first quarter. Old West Investment Management LLC now owns 3,435,932 shares of the basic materials company’s stock worth $12,747,000 after buying an additional 1,270,625 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Ferroglobe by 32.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 331,778 shares of the basic materials company’s stock worth $1,231,000 after buying an additional 81,611 shares in the last quarter. 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.