Ferroglobe (NASDAQ:GSM) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Friday.
GSM has been the topic of several other research reports. Zacks Investment Research raised shares of Ferroglobe from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Wednesday, October 11th. Stifel Nicolaus raised their price target on shares of Ferroglobe from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Jefferies Group reissued a “positive” rating and issued a $17.00 price target (up previously from $12.00) on shares of Ferroglobe in a report on Friday, August 18th. B. Riley reaffirmed a “buy” rating and issued a $16.00 target price (up from $14.25) on shares of Ferroglobe in a research report on Tuesday, August 29th. Finally, BidaskClub cut shares of Ferroglobe from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $19.25.
Ferroglobe (NASDAQ GSM) traded down $0.25 during trading on Friday, hitting $16.07. 510,409 shares of the stock were exchanged, compared to its average volume of 546,474. Ferroglobe has a 1 year low of $8.54 and a 1 year high of $16.50. The company has a quick ratio of 1.42, a current ratio of 1.80 and a debt-to-equity ratio of 0.45.
Several hedge funds have recently made changes to their positions in GSM. HighTower Advisors LLC grew its position in Ferroglobe by 0.4% during the second quarter. HighTower Advisors LLC now owns 41,492 shares of the basic materials company’s stock valued at $498,000 after buying an additional 150 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Ferroglobe by 10.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,659 shares of the basic materials company’s stock worth $127,000 after purchasing an additional 1,011 shares during the period. Budros Ruhlin & Roe Inc. boosted its position in shares of Ferroglobe by 17.2% in the second quarter. Budros Ruhlin & Roe Inc. now owns 13,603 shares of the basic materials company’s stock worth $163,000 after purchasing an additional 2,000 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of Ferroglobe by 30.6% in the third quarter. Oppenheimer & Co. Inc. now owns 15,912 shares of the basic materials company’s stock worth $209,000 after purchasing an additional 3,725 shares during the period. Finally, Chicago Equity Partners LLC boosted its position in shares of Ferroglobe by 2.6% in the third quarter. Chicago Equity Partners LLC now owns 196,555 shares of the basic materials company’s stock worth $2,587,000 after purchasing an additional 4,990 shares during the period. Hedge funds and other institutional investors own 36.62% of the company’s stock.
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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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