Ferroglobe (NASDAQ:GSM) Shares Cross Above 200 Day Moving Average – Should You Sell?

Ferroglobe PLC (NASDAQ:GSM) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.07 and traded as high as $4.28. Ferroglobe shares last traded at $4.18, with a volume of 1,815,299 shares trading hands.

Analyst Ratings Changes

GSM has been the topic of a number of recent research reports. Weiss Ratings lowered shares of Ferroglobe from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. Wall Street Zen downgraded Ferroglobe from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. 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. Based on data from MarketBeat, Ferroglobe has an average rating of “Hold” and a consensus target price of $6.00.

Ferroglobe Price Performance

The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The business’s 50-day simple moving average is $3.96 and its two-hundred day simple moving average is $4.07. The firm has a market cap of $780.11 million, a price-to-earnings ratio of -19.00 and a beta of 1.00.

Ferroglobe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 22nd will be given a dividend of $0.015 per share. The ex-dividend date is Tuesday, September 22nd. This represents a $0.06 annualized dividend and a dividend yield of 1.4%. Ferroglobe’s dividend payout ratio is presently -27.27%.

Insider Buying and Selling

In related news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $4.30, for a total transaction of $138,855.60. Following the completion of the sale, the insider owned 31,693 shares of the company’s stock, valued at $136,279.90. This trade represents a 50.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 13.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ferroglobe

A number of institutional investors and hedge funds have recently modified their holdings of GSM. Donald Smith & CO. Inc. acquired a new stake in shares of Ferroglobe during the 2nd quarter worth approximately $25,843,000. Ardsley Advisory Partners LP acquired a new position in shares of Ferroglobe during the 4th quarter valued at $9,837,000. CenterBook Partners LP boosted its stake in Ferroglobe by 59.1% during the fourth quarter. CenterBook Partners LP now owns 1,474,228 shares of the basic materials company’s stock worth $6,840,000 after acquiring an additional 547,847 shares in the last quarter. Man Investment Partners US LP bought a new position in Ferroglobe during the fourth quarter worth $6,021,000. Finally, Bastion Asset Management Inc. acquired a new stake in Ferroglobe in the first quarter worth $4,155,000. 89.64% of the stock is currently owned by institutional investors.

Ferroglobe Company Profile

Ferroglobe PLC (NASDAQ:GSM) is a global producer of silicon and specialty metals used in the manufacturing, automotive, chemical, construction, energy and technology industries. The company produces silicon metal, ferrosilicon, manganese alloys and other silicon-based alloys that help improve the strength, performance and durability of steel and aluminum products.

Its product portfolio also includes calcium silicon, inoculants and other specialty alloy products, as well as quartz and related raw materials used in silicon and alloy production.