Short Interest in Ferroglobe PLC (NASDAQ:GSM) Drops By 20.7%

Ferroglobe PLC (NASDAQ:GSM) was the target of a significant decline in short interest during the month of January. As of January 15th, there was short interest totaling 4,261,724 shares, a decline of 20.7% from the December 31st total of 5,371,891 shares. Based on an average daily trading volume, of 998,813 shares, the days-to-cover ratio is currently 4.3 days. Currently, 2.6% of the shares of the company are sold short. Currently, 2.6% of the shares of the company are sold short. Based on an average daily trading volume, of 998,813 shares, the days-to-cover ratio is currently 4.3 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System acquired a new position in Ferroglobe in the second quarter valued at about $27,000. State of Alaska Department of Revenue acquired a new stake in shares of Ferroglobe during the third quarter worth approximately $32,000. BNP Paribas Financial Markets raised its stake in shares of Ferroglobe by 1,017,300.0% in the second quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 10,173 shares during the last quarter. R Squared Ltd acquired a new position in shares of Ferroglobe in the 2nd quarter worth approximately $38,000. Finally, Spire Wealth Management grew its position in Ferroglobe by 49.0% during the 4th quarter. Spire Wealth Management now owns 8,334 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 2,740 shares during the last quarter. 89.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on GSM shares. B. Riley dropped their target price on shares of Ferroglobe from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Wall Street Zen cut shares of Ferroglobe from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ferroglobe in a research note on Thursday, January 22nd. Finally, Zacks Research raised Ferroglobe from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.00.

Ferroglobe Stock Performance

Shares of NASDAQ:GSM traded up $0.17 on Tuesday, hitting $5.05. 1,111,511 shares of the company were exchanged, compared to its average volume of 1,076,871. The company’s 50 day moving average price is $4.76 and its two-hundred day moving average price is $4.54. The firm has a market capitalization of $942.48 million, a price-to-earnings ratio of -6.82 and a beta of 1.09. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 1.66. Ferroglobe has a one year low of $2.97 and a one year high of $5.74.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.07). Ferroglobe had a negative net margin of 9.92% and a negative return on equity of 6.13%. The company had revenue of $311.70 million during the quarter, compared to the consensus estimate of $393.80 million. Research analysts expect that Ferroglobe will post 0.33 earnings per share for the current year.

Ferroglobe Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 22nd were issued a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, December 22nd. Ferroglobe’s dividend payout ratio (DPR) is presently -8.11%.

About Ferroglobe

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company’s core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe’s product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.