Ferroglobe PLC (NASDAQ:GSM) Short Interest Down 20.7% in January

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

Institutional Investors Weigh In On Ferroglobe

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GSM. B. Riley lowered their target price on Ferroglobe from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Weiss Ratings restated a “sell (d)” rating on shares of Ferroglobe in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of Ferroglobe from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Finally, Zacks Research upgraded shares of Ferroglobe from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Ferroglobe currently has an average rating of “Hold” and an average price target of $6.00.

Ferroglobe Stock Performance

GSM stock traded up $0.17 during midday trading on Tuesday, hitting $5.05. The stock had a trading volume of 1,111,511 shares, compared to its average volume of 1,076,871. Ferroglobe has a 52 week low of $2.97 and a 52 week high of $5.74. The company has a current ratio of 1.66, a quick ratio of 0.91 and a debt-to-equity ratio of 0.07. The stock has a 50-day simple moving average of $4.76 and a 200 day simple moving average of $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.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings results 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%. As a group, equities research analysts anticipate that Ferroglobe will post 0.33 earnings per share for the current year.

Ferroglobe Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 22nd were paid a dividend of $0.014 per share. The ex-dividend date 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 (DPR) is currently -8.11%.

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.