ValuEngine upgraded shares of Ferroglobe (NASDAQ:GSM) from a sell rating to a hold rating in a report published on Tuesday morning, ValuEngine reports.
GSM has been the topic of several other reports. Zacks Investment Research cut shares of Ferroglobe from a hold rating to a strong sell rating in a research report on Friday, June 7th. B. Riley set a $5.00 price objective on shares of Ferroglobe and gave the company a buy rating in a research report on Wednesday, June 5th. Finally, BidaskClub cut shares of Ferroglobe from a sell rating to a strong sell rating in a research report on Friday, May 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $7.43.
Shares of NASDAQ GSM opened at $1.52 on Tuesday. The firm has a market cap of $262.14 million, a PE ratio of 5.43 and a beta of 2.26. Ferroglobe has a twelve month low of $1.44 and a twelve month high of $9.40. The company has a current ratio of 1.74, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63.
Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings results on Monday, June 3rd. The basic materials company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The firm had revenue of $456.79 million for the quarter, compared to the consensus estimate of $481.09 million. Ferroglobe had a negative return on equity of 0.37% and a net margin of 1.20%. The company’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 earnings per share. As a group, equities analysts anticipate that Ferroglobe will post -0.52 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Adirondack Research & Management Inc. lifted its holdings in shares of Ferroglobe by 13.8% during the 1st quarter. Adirondack Research & Management Inc. now owns 578,771 shares of the basic materials company’s stock worth $1,186,000 after acquiring an additional 70,400 shares during the period. BlueMountain Capital Management LLC bought a new stake in shares of Ferroglobe during the 1st quarter worth approximately $225,000. Morgan Stanley lifted its holdings in shares of Ferroglobe by 339.7% during the 1st quarter. Morgan Stanley now owns 470,347 shares of the basic materials company’s stock worth $964,000 after acquiring an additional 363,368 shares during the period. Formula Growth Ltd. bought a new stake in shares of Ferroglobe during the 1st quarter worth approximately $2,044,000. Finally, OppenheimerFunds Inc. lifted its holdings in shares of Ferroglobe by 1.6% during the 1st quarter. OppenheimerFunds Inc. now owns 1,270,000 shares of the basic materials company’s stock worth $2,604,000 after acquiring an additional 20,000 shares during the period. 37.61% of the stock is currently owned by institutional investors and hedge funds.
Ferroglobe Company Profile
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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