Ferroglobe (NASDAQ:GSM) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Ferroglobe has been downgraded from a "hold" rating to a "sell" rating by analysts at Wall Street Zen.
• The company's stock price has decreased by 3.3%, currently trading at $4.05, with a market cap of $755.85 million.
• Ferroglobe reported a loss of $0.08 per share for the last quarter, missing analysts' expectations and highlighting a negative net margin of 6.99%.

Ferroglobe (NASDAQ:GSM - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Ferroglobe Price Performance

NASDAQ:GSM traded up $0.06 during trading hours on Friday, hitting $4.19. The stock had a trading volume of 412,105 shares, compared to its average volume of 1,273,946. The company has a 50 day simple moving average of $4.15 and a two-hundred day simple moving average of $3.86. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.56 and a quick ratio of 0.98. Ferroglobe has a one year low of $2.97 and a one year high of $5.12. The firm has a market capitalization of $781.05 million, a price-to-earnings ratio of -7.36 and a beta of 1.62.

Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The basic materials company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The company had revenue of $386.86 million for the quarter, compared to analysts' expectations of $398.00 million. Ferroglobe had a negative net margin of 6.99% and a negative return on equity of 2.85%. Research analysts forecast that Ferroglobe will post 0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ferroglobe

Several hedge funds have recently bought and sold shares of the business. New York State Common Retirement Fund boosted its stake in Ferroglobe by 70.7% during the second quarter. New York State Common Retirement Fund now owns 37,800 shares of the basic materials company's stock worth $139,000 after acquiring an additional 15,657 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Ferroglobe by 1.1% in the second quarter. Russell Investments Group Ltd. now owns 2,216,431 shares of the basic materials company's stock worth $8,134,000 after buying an additional 23,575 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Ferroglobe in the second quarter worth approximately $45,000. Prudential Financial Inc. bought a new position in shares of Ferroglobe in the second quarter worth approximately $51,000. Finally, Rhumbline Advisers lifted its stake in shares of Ferroglobe by 4,411.5% in the second quarter. Rhumbline Advisers now owns 178,611 shares of the basic materials company's stock worth $655,000 after buying an additional 174,652 shares in the last quarter. Institutional investors own 89.64% of the company's stock.

About Ferroglobe

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys 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; and silicon metal for primary and secondary aluminum producers.