Ferroglobe (NASDAQ:GSM) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Ferroglobe PLC (NASDAQ:GSM) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.42 and traded as high as $4.92. Ferroglobe shares last traded at $4.84, with a volume of 716,290 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Zacks Research cut Ferroglobe from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 12th. Weiss Ratings restated a “sell (d)” rating on shares of Ferroglobe in a research report on Wednesday, October 8th. B. Riley lowered their price objective on shares of Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Finally, Wall Street Zen cut shares of Ferroglobe from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $6.00.

Ferroglobe Stock Performance

The firm has a market capitalization of $903.27 million, a P/E ratio of -6.54 and a beta of 1.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.66 and a quick ratio of 0.91. The firm has a 50-day moving average price of $4.43 and a two-hundred day moving average price of $4.42.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.07). Ferroglobe had a negative return on equity of 6.13% and a negative net margin of 9.92%.The company had revenue of $311.70 million during the quarter, compared to analysts’ expectations of $393.80 million. On average, analysts forecast that Ferroglobe PLC will post 0.33 EPS for the current fiscal year.

Ferroglobe Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 22nd were given a dividend of $0.014 per share. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.2%. Ferroglobe’s dividend payout ratio (DPR) is -6.76%.

Institutional Trading of Ferroglobe

A number of large investors have recently modified their holdings of the company. Millennium Management LLC increased its holdings in Ferroglobe by 168.8% during the 1st quarter. Millennium Management LLC now owns 1,110,759 shares of the basic materials company’s stock worth $4,121,000 after purchasing an additional 697,476 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Ferroglobe by 32.6% during the first quarter. Goldman Sachs Group Inc. now owns 331,778 shares of the basic materials company’s stock valued at $1,231,000 after buying an additional 81,611 shares during the period. SummerHaven Investment Management LLC increased its stake in shares of Ferroglobe by 2.9% during the second quarter. SummerHaven Investment Management LLC now owns 140,675 shares of the basic materials company’s stock valued at $516,000 after buying an additional 3,919 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Ferroglobe by 19.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 17,474 shares of the basic materials company’s stock valued at $64,000 after acquiring an additional 2,838 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of Ferroglobe in the second quarter valued at about $38,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

About Ferroglobe

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company’s core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe’s product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.