Traders Purchase Large Volume of Ferroglobe Call Options (GSM)

Ferroglobe PLC (NASDAQ:GSM) was the recipient of unusually large options trading activity on Tuesday. Stock traders acquired 1,917 call options on the stock. This represents an increase of approximately 3,205% compared to the average volume of 58 call options.

Shares of Ferroglobe (GSM) opened at $14.50 on Friday. Ferroglobe has a 12 month low of $8.54 and a 12 month high of $17.61. The company has a market cap of $2,512.27, a P/E ratio of -53.70 and a beta of 1.54. The company has a quick ratio of 1.09, a current ratio of 1.80 and a debt-to-equity ratio of 0.45.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings results on Monday, November 27th. The basic materials company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. Ferroglobe had a negative net margin of 2.84% and a negative return on equity of 0.75%. The company had revenue of $451.60 million for the quarter, compared to analyst estimates of $435.15 million. The business’s revenue was up 23.8% compared to the same quarter last year. equities research analysts forecast that Ferroglobe will post 0.13 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the business. Legal & General Group Plc increased its stake in shares of 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 purchasing an additional 5,400 shares during the period. Invictus RG acquired a new stake in shares of Ferroglobe in the third quarter valued at approximately $146,000. Caxton Associates LP acquired a new stake in shares of Ferroglobe in the third quarter valued at approximately $151,000. Quantbot Technologies LP increased its stake in shares of Ferroglobe by 77.1% in the third quarter. Quantbot Technologies LP now owns 15,913 shares of the basic materials company’s stock valued at $209,000 after purchasing an additional 6,926 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings 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 valued at $209,000 after acquiring an additional 3,725 shares in the last quarter. Institutional investors own 38.50% of the company’s stock.

Several equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of Ferroglobe from a “strong sell” rating to a “sell” rating in a research note on Monday. Zacks Investment Research lowered shares of Ferroglobe from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 30th. ValuEngine lowered shares of Ferroglobe from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Stifel Nicolaus set a $23.00 price target on shares of Ferroglobe and gave the company a “buy” rating in a research note on Thursday, November 30th. Finally, B. Riley restated a “buy” rating and issued a $20.00 price target (up previously from $16.00) on shares of Ferroglobe in a research note on Wednesday, November 29th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $19.25.

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About Ferroglobe

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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