Ferroglobe (NASDAQ:GSM) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report issued on Wednesday.
Several other equities research analysts have also recently weighed in on the stock. ValuEngine cut shares of Ferroglobe from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Zacks Investment Research cut shares of Ferroglobe from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 28th. Jefferies Group set a $19.00 price target on shares of Ferroglobe and gave the stock a “buy” rating in a research report on Monday, February 26th. Stifel Nicolaus set a $23.00 price target on shares of Ferroglobe and gave the stock a “buy” rating in a research report 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 report on Wednesday, November 29th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $19.50.
Ferroglobe (NASDAQ GSM) traded down $0.29 during mid-day trading on Wednesday, hitting $15.78. 501,422 shares of the stock traded hands, compared to its average volume of 502,106. Ferroglobe has a 1 year low of $8.54 and a 1 year high of $17.61. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.80 and a quick ratio of 1.09. The stock has a market capitalization of $2,786.36, a P/E ratio of 105.20 and a beta of 1.35.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Castleark Management LLC bought a new stake in Ferroglobe in the fourth quarter worth $7,340,000. Macquarie Group Ltd. increased its position in Ferroglobe by 113.4% in the fourth quarter. Macquarie Group Ltd. now owns 143,923 shares of the basic materials company’s stock worth $2,331,000 after purchasing an additional 76,477 shares during the last quarter. PEAK6 Investments L.P. increased its position in Ferroglobe by 107.8% in the fourth quarter. PEAK6 Investments L.P. now owns 19,705 shares of the basic materials company’s stock worth $319,000 after purchasing an additional 10,221 shares during the last quarter. Clearline Capital LP increased its position in Ferroglobe by 7.5% in the fourth quarter. Clearline Capital LP now owns 763,753 shares of the basic materials company’s stock worth $12,373,000 after purchasing an additional 53,370 shares during the last quarter. Finally, Raymond James & Associates bought a new position in Ferroglobe during the fourth quarter valued at $2,267,000. Institutional investors own 41.20% 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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