Ferroglobe (NASDAQ:GSM) Sees Strong Trading Volume – Should You Buy?

Shares of Ferroglobe PLC (NASDAQ:GSM) saw an uptick in trading volume on Wednesday . Approximately 4,336,073 shares changed hands during trading, an increase of 219% from the previous session’s volume of 1,358,947 shares.The stock last traded at $3.3350 and had previously closed at $3.44.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Ferroglobe in a report on Friday, June 26th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.00.

Ferroglobe Price Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.80 and a current ratio of 1.43. The company’s fifty day moving average price is $3.97 and its 200 day moving average price is $4.45. The firm has a market capitalization of $620.92 million, a price-to-earnings ratio of -5.56 and a beta of 1.02.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share for the quarter. Ferroglobe had a negative return on equity of 5.63% and a negative net margin of 8.09%.The company had revenue of $347.75 million for the quarter. Equities research analysts expect that Ferroglobe PLC will post -0.14 earnings per share for the current year.

Ferroglobe Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 22nd were issued a $0.015 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.06 annualized dividend and a yield of 1.8%. Ferroglobe’s dividend payout ratio is presently -10.00%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System acquired a new stake in Ferroglobe in the second quarter worth approximately $27,000. Quadrant Capital Group LLC boosted its stake in Ferroglobe by 66.1% during the 4th quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 3,146 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Ferroglobe by 1,017,300.0% during 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 during the period. Spire Wealth Management raised its stake 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 buying an additional 2,740 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of Ferroglobe in the 1st quarter worth $44,000. Institutional investors and hedge funds own 89.64% of the company’s stock.

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.