Globe Specialty Metals Inc. (GSM) Short Interest Update
Globe Specialty Metals Inc. (NASDAQ:GSM) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 7,991,476 shares, a growth of 25.7% from the September 15th total of 6,358,156 shares. Approximately 12.5% of the company’s stock are short sold. Based on an average daily volume of 1,010,548 shares, the days-to-cover ratio is currently 7.9 days.
Shares of Globe Specialty Metals (NASDAQ:GSM) opened at 8.80 on Friday. Globe Specialty Metals has a 52-week low of $6.90 and a 52-week high of $13.80. The company has a 50 day moving average price of $8.61 and a 200-day moving average price of $9.02. The firm’s market cap is $1.51 billion.
Globe Specialty Metals (NASDAQ:GSM) last posted its quarterly earnings data on Friday, August 26th. The company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.03. On average, analysts expect that Globe Specialty Metals will post ($0.09) earnings per share for the current fiscal year.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/14/globe-specialty-metals-inc-gsm-short-interest-update.html
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 28th. Investors of record on Wednesday, September 14th were issued a $0.08 dividend. The ex-dividend date was Monday, September 12th. This represents a $0.32 dividend on an annualized basis and a yield of 3.64%.
Several analysts have issued reports on GSM shares. Zacks Investment Research downgraded Globe Specialty Metals from a “hold” rating to a “sell” rating in a research note on Friday, July 15th. B. Riley downgraded Globe Specialty Metals from a “buy” rating to a “neutral” rating and dropped their price target for the company from $12.50 to $10.25 in a research note on Thursday, August 25th. Stifel Nicolaus dropped their price target on Globe Specialty Metals from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, August 29th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $12.00 price target (down previously from $14.00) on shares of Globe Specialty Metals in a research note on Monday, August 29th. Finally, Jefferies Group set a $11.00 price target on Globe Specialty Metals and gave the company a “buy” rating in a research note on Monday, August 29th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $12.38.
Globe Specialty Metals 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.
Receive News & Ratings for Globe Specialty Metals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globe Specialty Metals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.