BidaskClub Lowers Ferroglobe (GSM) to Buy
Ferroglobe (NASDAQ:GSM) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.
A number of other equities analysts have also recently issued reports on the company. B. Riley reiterated a “buy” rating and issued a $16.00 target price on shares of Ferroglobe in a report on Sunday, September 3rd. Stifel Nicolaus reiterated a “buy” rating on shares of Ferroglobe in a report on Sunday, September 3rd. Jefferies Group reiterated a “buy” rating and issued a $16.75 target price (down from $17.00) on shares of Ferroglobe in a report on Thursday, August 31st. Finally, Zacks Investment Research upgraded Ferroglobe from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $19.25.
Ferroglobe (GSM) traded up $0.48 during trading on Wednesday, hitting $16.73. The company’s stock had a trading volume of 1,073,856 shares, compared to its average volume of 489,431. Ferroglobe has a 52-week low of $8.54 and a 52-week high of $16.75. The company has a current ratio of 1.80, a quick ratio of 1.09 and a debt-to-equity ratio of 0.45.
Several institutional investors and hedge funds have recently modified their holdings of GSM. Hosking Partners LLP raised its position in Ferroglobe by 1.6% in the 2nd quarter. Hosking Partners LLP now owns 450,794 shares of the basic materials company’s stock valued at $5,387,000 after buying an additional 7,283 shares during the last quarter. Comerica Bank purchased a new stake in Ferroglobe in the 2nd quarter valued at $2,899,000. Geode Capital Management LLC raised its position in Ferroglobe by 5.3% in the 1st quarter. Geode Capital Management LLC now owns 149,294 shares of the basic materials company’s stock valued at $1,542,000 after buying an additional 7,523 shares during the last quarter. Chicago Equity Partners LLC purchased a new stake in Ferroglobe in the 2nd quarter valued at $2,289,000. Finally, Goldman Sachs Group Inc. raised its position in Ferroglobe by 335.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 546,437 shares of the basic materials company’s stock valued at $6,530,000 after buying an additional 420,922 shares during the last quarter. Institutional investors own 36.61% 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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