Ferroglobe PLC (GSM) Short Interest Update
Ferroglobe PLC (NASDAQ:GSM) saw a large increase in short interest during the month of October. As of October 13th, there was short interest totalling 2,891,448 shares, an increase of 57.8% from the September 29th total of 1,832,801 shares. Based on an average trading volume of 839,473 shares, the short-interest ratio is currently 3.4 days. Approximately 4.1% of the company’s shares are short sold.
Shares of Ferroglobe PLC (NASDAQ GSM) opened at 15.83 on Friday. The company’s market cap is $2.72 billion. Ferroglobe PLC has a 1-year low of $8.54 and a 1-year high of $15.86. The stock has a 50 day moving average price of $13.80 and a 200-day moving average price of $11.97.
A number of hedge funds and other institutional investors have recently made changes to their positions in GSM. Bank of New York Mellon Corp lifted its stake in Ferroglobe PLC by 2.4% in the first quarter. Bank of New York Mellon Corp now owns 418,779 shares of the basic materials company’s stock worth $4,326,000 after purchasing an additional 9,648 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in Ferroglobe PLC by 34.9% in the first quarter. Parametric Portfolio Associates LLC now owns 172,823 shares of the basic materials company’s stock worth $1,785,000 after purchasing an additional 44,692 shares during the last quarter. American International Group Inc. lifted its stake in Ferroglobe PLC by 7.1% in the first quarter. American International Group Inc. now owns 40,274 shares of the basic materials company’s stock worth $416,000 after purchasing an additional 2,664 shares during the last quarter. Wellington Management Group LLP bought a new stake in Ferroglobe PLC in the first quarter worth about $3,249,000. Finally, FMR LLC lifted its stake in Ferroglobe PLC by 53.2% in the first quarter. FMR LLC now owns 1,707,268 shares of the basic materials company’s stock worth $17,636,000 after purchasing an additional 593,168 shares during the last quarter. 38.30% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Ferroglobe PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. B. Riley reissued a “buy” rating and issued a $16.00 target price on shares of Ferroglobe PLC in a research note on Sunday, September 3rd. BidaskClub lowered Ferroglobe PLC from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Stifel Nicolaus boosted their target price on Ferroglobe PLC from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $12.00 target price on shares of Ferroglobe PLC in a research note on Wednesday, July 19th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $16.20.
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Ferroglobe PLC 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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