BidaskClub lowered shares of Ferroglobe (NASDAQ:GSM) from a hold rating to a sell rating in a report released on Friday morning.
GSM has been the subject of several other reports. Stifel Nicolaus set a $23.00 target price on Ferroglobe and gave the company a buy rating in a report on Thursday, November 30th. ValuEngine lowered Ferroglobe from a hold rating to a sell rating in a report on Thursday, March 1st. Zacks Investment Research lowered Ferroglobe from a hold rating to a strong sell rating in a report on Wednesday, February 28th. B. Riley reaffirmed a buy rating and issued a $20.00 target price (up from $16.00) on shares of Ferroglobe in a report on Wednesday, November 29th. Finally, Jefferies Group set a $18.00 price objective on Ferroglobe and gave the company a buy rating in a research note on Tuesday, November 28th. Three equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. Ferroglobe presently has a consensus rating of Hold and an average price target of $19.50.
Shares of Ferroglobe (GSM) traded down $3.43 on Friday, reaching $11.09. The company’s stock had a trading volume of 8,586,452 shares, compared to its average volume of 659,425. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.80 and a quick ratio of 1.09. The company has a market cap of $2,495.09, a price-to-earnings ratio of 73.90 and a beta of 1.35. Ferroglobe has a 1 year low of $8.54 and a 1 year high of $17.61.
Institutional investors have recently bought and sold shares of the stock. OppenheimerFunds Inc. purchased a new stake in shares of Ferroglobe during the fourth quarter worth $20,246,000. Castleark Management LLC purchased a new stake in shares of Ferroglobe during the fourth quarter worth $7,340,000. Tygh Capital Management Inc. purchased a new stake in shares of Ferroglobe during the fourth quarter worth $5,485,000. Bank of New York Mellon Corp increased its holdings in shares of Ferroglobe by 354.2% in the third quarter. Bank of New York Mellon Corp now owns 323,269 shares of the basic materials company’s stock worth $4,254,000 after purchasing an additional 252,097 shares during the period. Finally, Victory Capital Management Inc. bought a new position in shares of Ferroglobe in the fourth quarter worth $3,952,000. Institutional investors and hedge funds own 41.20% of the company’s stock.
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Ferroglobe PLC, formerly VeloNewco Limited, is engaged in silicon and specialty metals industry. The Company produces silicon metal and silicon- and manganese-based alloy, which serves customers in the chemical, aluminum, solar, steel and ductile iron foundry industries. It operates through two segments: Electrometallurgy and Energy.
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