Ferroglobe PLC (NASDAQ:GSM) Short Interest Down 18.5% in December

Ferroglobe PLC (NASDAQ:GSM) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 5,371,891 shares, a drop of 18.5% from the December 15th total of 6,591,738 shares. Currently, 3.3% of the shares of the stock are sold short. Based on an average trading volume of 851,048 shares, the short-interest ratio is presently 6.3 days. Based on an average trading volume of 851,048 shares, the short-interest ratio is presently 6.3 days. Currently, 3.3% of the shares of the stock are sold short.

Hedge Funds Weigh In On Ferroglobe

Large investors have recently modified their holdings of the stock. Millennium Management LLC boosted its position in shares of Ferroglobe by 168.8% in the 1st quarter. Millennium Management LLC now owns 1,110,759 shares of the basic materials company’s stock worth $4,121,000 after purchasing an additional 697,476 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Ferroglobe by 32.6% during the first quarter. Goldman Sachs Group Inc. now owns 331,778 shares of the basic materials company’s stock worth $1,231,000 after buying an additional 81,611 shares during the last quarter. SummerHaven Investment Management LLC grew its position in shares of Ferroglobe by 2.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 140,675 shares of the basic materials company’s stock worth $516,000 after buying an additional 3,919 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in shares of Ferroglobe by 19.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 17,474 shares of the basic materials company’s stock worth $64,000 after buying an additional 2,838 shares during the period. Finally, R Squared Ltd bought a new stake in shares of Ferroglobe in the 2nd quarter valued at about $38,000. 89.64% of the stock is currently owned by institutional investors and hedge funds.

Ferroglobe Price Performance

Shares of GSM traded up $0.13 on Tuesday, hitting $5.06. The company’s stock had a trading volume of 1,825,779 shares, compared to its average volume of 1,182,114. The company has a market capitalization of $944.33 million, a PE ratio of -6.84 and a beta of 1.08. Ferroglobe has a fifty-two week low of $2.97 and a fifty-two week high of $5.74. The company has a 50 day moving average price of $4.53 and a 200 day moving average price of $4.50. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.66 and a quick ratio of 0.91.

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

Ferroglobe Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 22nd were issued a dividend of $0.014 per share. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $0.06 dividend on an annualized basis and a yield of 1.1%. Ferroglobe’s dividend payout ratio is currently -6.76%.

Analysts Set New Price Targets

GSM has been the subject of several recent research reports. Zacks Research raised shares of Ferroglobe from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Ferroglobe in a report on Wednesday, October 8th. B. Riley cut their target price on Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Finally, Wall Street Zen cut Ferroglobe from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.00.

Ferroglobe Company Profile

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.