Ferroglobe (NASDAQ:GSM) Trading Down 8.6% – Time to Sell?

Shares of Ferroglobe PLC (NASDAQ:GSM) fell 8.6% during mid-day trading on Tuesday . The stock traded as low as $4.79 and last traded at $4.8250. 489,881 shares were traded during trading, a decline of 57% from the average session volume of 1,152,173 shares. The stock had previously closed at $5.28.

Analyst Upgrades and Downgrades

GSM has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Ferroglobe from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Zacks Research raised Ferroglobe from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. B. Riley Financial decreased their price objective on Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ferroglobe in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Ferroglobe Trading Down 8.7%

The stock has a market cap of $899.54 million, a price-to-earnings ratio of -6.51 and a beta of 1.09. The business’s 50 day simple moving average is $4.89 and its 200 day simple moving average is $4.58. The company has a quick ratio of 0.91, a current ratio of 1.66 and a debt-to-equity ratio of 0.07.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings data on Tuesday, February 17th. The basic materials company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. Ferroglobe had a negative net margin of 9.92% and a negative return on equity of 6.13%. On average, research analysts expect that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Ferroglobe

Institutional investors have recently modified their holdings of the business. Millennium Management LLC increased its position in Ferroglobe by 168.8% during the first 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 during the period. Goldman Sachs Group Inc. increased its holdings in shares of Ferroglobe by 32.6% during the first quarter. Goldman Sachs Group Inc. now owns 331,778 shares of the basic materials company’s stock worth $1,231,000 after purchasing an additional 81,611 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in Ferroglobe by 19.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 17,474 shares of the basic materials company’s stock valued at $64,000 after acquiring an additional 2,838 shares in the last quarter. R Squared Ltd acquired a new position in Ferroglobe in the second quarter valued at about $38,000. Finally, Envestnet Asset Management Inc. lifted its stake in Ferroglobe by 14.1% during the second quarter. Envestnet Asset Management Inc. now owns 329,477 shares of the basic materials company’s stock worth $1,209,000 after purchasing an additional 40,731 shares during the last quarter. Institutional investors own 89.64% of the company’s stock.

Ferroglobe Company Profile

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.