Short Interest in Ferroglobe PLC (NASDAQ:GSM) Rises By 25.6%

Ferroglobe PLC (NASDAQ:GSM) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 2,110,000 shares, an increase of 25.6% from the May 31st total of 1,680,000 shares. Based on an average daily trading volume, of 1,380,000 shares, the short-interest ratio is currently 1.5 days. Approximately 1.9% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Ferroglobe from a “hold” rating to a “buy” rating in a research note on Monday, May 20th.

Ferroglobe Stock Performance

GSM stock traded up $0.01 during midday trading on Friday, reaching $5.36. 1,390,925 shares of the company’s stock traded hands, compared to its average volume of 1,252,902. The firm has a market capitalization of $1.00 billion, a PE ratio of 15.77 and a beta of 1.89. The company has a 50-day moving average price of $5.55 and a two-hundred day moving average price of $5.43. Ferroglobe has a 52 week low of $4.26 and a 52 week high of $6.78. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.02 and a current ratio of 1.74.

Ferroglobe Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 17th were paid a $0.013 dividend. This represents a $0.05 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Monday, June 17th. Ferroglobe’s dividend payout ratio is presently 14.71%.

Institutional Investors Weigh In On Ferroglobe

Institutional investors and hedge funds have recently made changes to their positions in the business. Grizzlyrock Capital LLC bought a new position in Ferroglobe in the fourth quarter valued at $19,467,000. Hosking Partners LLP raised its holdings in shares of Ferroglobe by 29.8% during the 1st quarter. Hosking Partners LLP now owns 6,127,015 shares of the basic materials company’s stock valued at $30,513,000 after buying an additional 1,407,079 shares in the last quarter. Tyro Capital Management LLC purchased a new position in shares of Ferroglobe during the 4th quarter valued at about $7,228,000. Orchard Capital Management LLC bought a new stake in Ferroglobe in the 4th quarter worth approximately $6,777,000. Finally, Masters Capital Management LLC boosted its stake in Ferroglobe by 37.0% in the first quarter. Masters Capital Management LLC now owns 3,150,000 shares of the basic materials company’s stock worth $15,687,000 after buying an additional 850,000 shares in the last quarter. Hedge funds and other institutional investors own 89.64% of the company’s stock.

About Ferroglobe

Ferroglobe PLC operates in the silicon and specialty metals industry 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, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.