Ferroglobe PLC (NASDAQ:GSM – Get Rating) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,310,000 shares, a drop of 9.7% from the October 15th total of 1,450,000 shares. Based on an average trading volume of 1,460,000 shares, the days-to-cover ratio is currently 0.9 days. Approximately 1.4% of the shares of the stock are sold short.
Ferroglobe Trading Down 5.1 %
Shares of GSM stock opened at $4.67 on Friday. Ferroglobe has a 12-month low of $4.53 and a 12-month high of $9.81. The company has a current ratio of 1.90, a quick ratio of 1.28 and a debt-to-equity ratio of 0.54. The stock’s 50-day moving average price is $5.80 and its 200-day moving average price is $6.26. The stock has a market capitalization of $874.74 million, a price-to-earnings ratio of 1.76 and a beta of 2.23.
Ferroglobe (NASDAQ:GSM – Get Rating) last issued its earnings results on Monday, August 15th. The basic materials company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.30. Ferroglobe had a return on equity of 101.74% and a net margin of 18.41%. The firm had revenue of $840.81 million for the quarter, compared to analysts’ expectations of $738.00 million. Equities research analysts predict that Ferroglobe will post 2.93 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Institutional Investors Weigh In On Ferroglobe
Several large investors have recently made changes to their positions in GSM. Royal Bank of Canada increased its stake in Ferroglobe by 44,350.0% during the third quarter. Royal Bank of Canada now owns 5,334 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 5,322 shares during the last quarter. Barclays PLC increased its stake in Ferroglobe by 50.8% during the third quarter. Barclays PLC now owns 6,065 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 2,042 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Ferroglobe by 2,066.0% during the third quarter. Tower Research Capital LLC TRC now owns 9,097 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 8,677 shares during the last quarter. PDT Partners LLC bought a new stake in Ferroglobe during the third quarter worth approximately $56,000. Finally, Delphia USA Inc. bought a new stake in Ferroglobe during the third quarter worth approximately $59,000. 40.06% of the stock is owned by institutional investors.
Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.
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