Ferroglobe (NASDAQ:GSM) Share Price Crosses Above 200 Day Moving Average of $0.00

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Shares of Ferroglobe PLC (NASDAQ:GSM) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $1.27. Ferroglobe shares last traded at $1.22, with a volume of 11,878 shares trading hands.

A number of equities research analysts recently weighed in on GSM shares. BidaskClub raised Ferroglobe from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 11th. B. Riley set a $5.00 price objective on Ferroglobe and gave the company a “buy” rating in a research report on Wednesday, June 5th. ValuEngine raised Ferroglobe from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research downgraded Ferroglobe from a “hold” rating to a “strong sell” rating in a report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Ferroglobe presently has an average rating of “Hold” and a consensus price target of $5.57.

The company has a debt-to-equity ratio of 0.63, a current ratio of 1.74 and a quick ratio of 0.81. The firm has a market cap of $221.55 million, a price-to-earnings ratio of 4.29 and a beta of 2.27. The firm has a fifty day simple moving average of $1.58 and a two-hundred day simple moving average of $1.95.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings results on Monday, June 3rd. The basic materials company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The business had revenue of $456.79 million during the quarter, compared to analyst estimates of $481.09 million. Ferroglobe had a negative return on equity of 0.37% and a net margin of 1.20%. Ferroglobe’s revenue was down 18.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.19 EPS. Equities analysts anticipate that Ferroglobe PLC will post -0.52 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of GSM. Invesco Ltd. boosted its holdings in Ferroglobe by 255.3% in the second quarter. Invesco Ltd. now owns 1,757,843 shares of the basic materials company’s stock worth $2,988,000 after acquiring an additional 1,263,094 shares in the last quarter. Formula Growth Ltd. purchased a new position in shares of Ferroglobe in the first quarter worth about $2,044,000. Renaissance Technologies LLC raised its stake in shares of Ferroglobe by 274.3% in the second quarter. Renaissance Technologies LLC now owns 972,700 shares of the basic materials company’s stock worth $1,654,000 after purchasing an additional 712,800 shares during the last quarter. Royce & Associates LP raised its stake in shares of Ferroglobe by 81.8% in the first quarter. Royce & Associates LP now owns 1,568,900 shares of the basic materials company’s stock worth $3,216,000 after purchasing an additional 705,800 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Ferroglobe by 308.6% in the first quarter. Acadian Asset Management LLC now owns 690,786 shares of the basic materials company’s stock worth $1,414,000 after purchasing an additional 521,718 shares during the last quarter. 37.67% of the stock is owned by institutional investors and hedge funds.

Ferroglobe Company Profile (NASDAQ:GSM)

Ferroglobe PLC engages in the production of silicon metal, silicon-based specialty alloys, and ferroalloys. It operates through the following segments: Electrometallurgy-North America, Electrometallurgy-Europe, Electrometallurgy-South Africa, and Other. The company was founded on February 5, 2015 and is headquartered in London, the United Kingdom.

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