Short Interest in Ferroglobe PLC (NASDAQ:GSM) Increases By 22.9%

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Ferroglobe PLC (NASDAQ:GSM) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 805,500 shares, a growth of 22.9% from the August 30th total of 655,200 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average daily volume of 519,700 shares, the short-interest ratio is presently 1.5 days.

Several analysts have issued reports on GSM shares. ValuEngine downgraded shares of Ferroglobe from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Stifel Nicolaus lowered shares of Ferroglobe from a “buy” rating to a “hold” rating in a research report on Monday, September 16th. Finally, Zacks Investment Research lowered shares of Ferroglobe from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Ferroglobe has an average rating of “Hold” and an average price target of $5.57.

Shares of NASDAQ:GSM traded up $0.11 during trading on Friday, reaching $0.80. The stock had a trading volume of 2,279,739 shares, compared to its average volume of 774,834. The business has a fifty day moving average price of $1.17 and a 200-day moving average price of $1.63. The company has a quick ratio of 0.68, a current ratio of 1.38 and a debt-to-equity ratio of 0.44. The stock has a market cap of $135.14 million, a P/E ratio of 2.85 and a beta of 2.24. Ferroglobe has a fifty-two week low of $0.63 and a fifty-two week high of $7.11.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings data on Tuesday, September 3rd. The basic materials company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The firm had revenue of $409.47 million during the quarter, compared to analyst estimates of $446.01 million. Ferroglobe had a negative net margin of 4.12% and a negative return on equity of 5.69%. The business’s quarterly revenue was down 29.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 EPS. As a group, equities analysts forecast that Ferroglobe will post -0.59 EPS for the current year.

Several large investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC increased its position in Ferroglobe by 69.7% during the second quarter. Parametric Portfolio Associates LLC now owns 19,561 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 8,033 shares during the last quarter. Russell Investments Group Ltd. increased its position in Ferroglobe by 25.0% during the second quarter. Russell Investments Group Ltd. now owns 38,418 shares of the basic materials company’s stock worth $65,000 after purchasing an additional 7,676 shares during the last quarter. Citadel Advisors LLC increased its position in Ferroglobe by 211.6% during the second quarter. Citadel Advisors LLC now owns 72,635 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 137,735 shares during the last quarter. Wells Fargo & Company MN increased its position in Ferroglobe by 14.0% during the second quarter. Wells Fargo & Company MN now owns 97,018 shares of the basic materials company’s stock worth $165,000 after purchasing an additional 11,947 shares during the last quarter. Finally, Ardsley Advisory Partners LP increased its position in Ferroglobe by 150.0% during the second quarter. Ardsley Advisory Partners LP now owns 200,000 shares of the basic materials company’s stock worth $340,000 after purchasing an additional 120,000 shares during the last quarter. 34.59% of the stock is 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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