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

Ferroglobe logo with Basic Materials background

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%.
  • Want stock alerts on Ferroglobe? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

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

Ferroglobe Stock Down 3.3%

Shares of NASDAQ GSM traded down $0.14 during trading on Friday, reaching $4.05. The company had a trading volume of 1,503,299 shares, compared to its average volume of 1,762,603. The stock has a market cap of $755.85 million, a PE ratio of -7.11 and a beta of 1.62. The company has a quick ratio of 0.98, a current ratio of 1.56 and a debt-to-equity ratio of 0.14. Ferroglobe has a 12-month low of $2.97 and a 12-month high of $5.12. The business's 50-day moving average is $4.13 and its 200 day moving average is $3.85.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC purchased a new stake in shares of Ferroglobe during the second quarter worth about $225,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Ferroglobe during the 2nd quarter valued at approximately $105,000. Geode Capital Management LLC grew its holdings in Ferroglobe by 1,068.3% during the 2nd quarter. Geode Capital Management LLC now owns 1,558,383 shares of the basic materials company's stock valued at $5,719,000 after buying an additional 1,424,998 shares in the last quarter. ProShare Advisors LLC purchased a new position in Ferroglobe during the 2nd quarter valued at approximately $90,000. Finally, Los Angeles Capital Management LLC purchased a new position in Ferroglobe during the 2nd quarter valued at approximately $174,000. Institutional investors own 89.64% of the company's stock.

About Ferroglobe

(Get Free Report)

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.

Further Reading

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