BidaskClub cut shares of Ferroglobe (NASDAQ:GSM) from a hold rating to a sell rating in a research report sent to investors on Friday morning.
Several other research analysts have also recently weighed in on GSM. Jefferies Group set a $17.00 target price on Ferroglobe and gave the company a buy rating in a research note on Thursday, October 5th. Stifel Nicolaus set a $19.00 target price on Ferroglobe and gave the company a buy rating in a research note on Friday, October 6th. Zacks Investment Research raised Ferroglobe from a hold rating to a buy rating and set a $16.00 target price for the company in a research note on Wednesday, October 11th. B. Riley reaffirmed a buy rating and set a $20.00 target price (up previously from $16.00) on shares of Ferroglobe in a research note on Wednesday, November 22nd. Finally, ValuEngine cut Ferroglobe from a hold rating to a sell rating in a research note on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $19.25.
Shares of Ferroglobe (NASDAQ GSM) traded up $0.29 during mid-day trading on Friday, reaching $15.64. The company had a trading volume of 411,017 shares, compared to its average volume of 363,807. Ferroglobe has a fifty-two week low of $8.54 and a fifty-two week high of $17.61. The company has a market capitalization of $2,637.72, a PE ratio of -57.92 and a beta of 1.76. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.80 and a quick ratio of 1.09.
Several large investors have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. acquired a new position in shares of Ferroglobe in the 4th quarter valued at $733,000. Acadian Asset Management LLC boosted its position in shares of Ferroglobe by 62.0% in the 4th quarter. Acadian Asset Management LLC now owns 395,408 shares of the basic materials company’s stock valued at $6,405,000 after purchasing an additional 151,258 shares during the period. Bank of Montreal Can boosted its position in shares of Ferroglobe by 8.2% in the 4th quarter. Bank of Montreal Can now owns 164,028 shares of the basic materials company’s stock valued at $2,657,000 after purchasing an additional 12,385 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Ferroglobe in the 3rd quarter valued at $526,000. Finally, Caxton Associates LP acquired a new position in shares of Ferroglobe in the 3rd quarter valued at $151,000. Institutional investors and hedge funds own 36.50% of the company’s stock.
Ferroglobe Company Profile
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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