Ferroglobe PLC (GSM) Upgraded to Strong-Buy at BidaskClub
Ferroglobe PLC (NASDAQ:GSM) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.
A number of other analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Ferroglobe PLC from a “buy” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus set a $19.00 price objective on shares of Ferroglobe PLC and gave the stock a “buy” rating in a research note on Friday, October 6th. Jefferies Group LLC set a $17.00 price objective on shares of Ferroglobe PLC and gave the stock a “buy” rating in a research note on Thursday, October 5th. Finally, B. Riley reissued a “buy” rating and issued a $16.00 price objective on shares of Ferroglobe PLC in a research note on Sunday, September 3rd. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Ferroglobe PLC currently has a consensus rating of “Buy” and an average price target of $15.60.
Ferroglobe PLC (NASDAQ GSM) traded up 0.53% on Friday, reaching $15.20. 416,113 shares of the company were exchanged. Ferroglobe PLC has a 12-month low of $8.54 and a 12-month high of $15.28. The firm’s market capitalization is $2.61 billion. The firm has a 50-day moving average of $13.69 and a 200 day moving average of $11.86.
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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ardsley Advisory Partners grew its stake in Ferroglobe PLC by 128.8% during the second quarter. Ardsley Advisory Partners now owns 595,000 shares of the basic materials company’s stock valued at $7,107,000 after acquiring an additional 335,000 shares in the last quarter. Nomura Holdings Inc. purchased a new position in Ferroglobe PLC during the second quarter valued at $12,104,000. Kingdon Capital Management L.L.C. purchased a new position in Ferroglobe PLC during the second quarter valued at $1,194,000. BlueCrest Capital Management Ltd grew its stake in Ferroglobe PLC by 356.3% during the second quarter. BlueCrest Capital Management Ltd now owns 54,334 shares of the basic materials company’s stock valued at $649,000 after acquiring an additional 42,427 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC purchased a new position in Ferroglobe PLC during the second quarter valued at $3,411,000. 38.16% of the stock is owned by institutional investors.
About Ferroglobe PLC
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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