Ferroglobe (GSM) Rating Lowered to Hold at BidaskClub
Ferroglobe (NASDAQ:GSM) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
Several other research firms also recently issued reports on GSM. Zacks Investment Research downgraded shares of Ferroglobe from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. Jefferies Group set a $18.00 price objective on shares of Ferroglobe and gave the stock a “buy” rating in a report on Tuesday, November 28th. Stifel Nicolaus boosted their price objective on shares of Ferroglobe from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, B. Riley reissued a “buy” rating and issued a $20.00 target price (up previously from $16.00) on shares of Ferroglobe in a research note on Wednesday, November 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Ferroglobe has an average rating of “Hold” and a consensus target price of $19.25.
Ferroglobe (NASDAQ GSM) traded up $0.05 during trading hours on Friday, hitting $16.13. 748,830 shares of the stock traded hands, compared to its average volume of 637,411. Ferroglobe has a one year low of $8.54 and a one year high of $17.61. The company has a current ratio of 1.80, a quick ratio of 1.09 and a debt-to-equity ratio of 0.45.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. increased its stake in Ferroglobe by 10.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,659 shares of the basic materials company’s stock valued at $127,000 after acquiring an additional 1,011 shares during the period. Legal & General Group Plc increased its stake in Ferroglobe by 108.3% in the third quarter. Legal & General Group Plc now owns 10,385 shares of the basic materials company’s stock valued at $137,000 after acquiring an additional 5,400 shares during the period. Invictus RG bought a new stake in Ferroglobe in the third quarter valued at about $146,000. Caxton Associates LP bought a new stake in Ferroglobe during the third quarter worth about $151,000. Finally, Budros Ruhlin & Roe Inc. grew its stake in Ferroglobe by 17.2% during the second quarter. Budros Ruhlin & Roe Inc. now owns 13,603 shares of the basic materials company’s stock worth $163,000 after buying an additional 2,000 shares during the last quarter. 36.61% of the stock is currently owned by institutional investors and hedge funds.
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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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