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

Key Points

• Wall Street Zen downgraded Ferroglobe from “Buy” to “Hold,” while Weiss Ratings also lowered its rating to “Sell (D-).” The stock has a consensus “Hold” rating and an average analyst price target of $6.00.
• Ferroglobe shares opened at $4.39, with a 12-month trading range of $3.08 to $5.74 and a market capitalization of approximately $819 million.
• Institutional investors own 89.64% of Ferroglobe’s shares, with several funds recently initiating or increasing positions in the specialty metals and alloys producer.

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

Separately, Weiss Ratings cut Ferroglobe from a "sell (d)" rating to a "sell (d-)" rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $6.00.

Ferroglobe Trading Up 0.2%

NASDAQ GSM opened at $4.39 on Friday. Ferroglobe has a 12 month low of $3.08 and a 12 month high of $5.74. The company has a current ratio of 1.29, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average of $3.63 and a 200-day moving average of $4.21. The company has a market cap of $819.31 million, a PE ratio of -19.95 and a beta of 1.02.

Institutional Investors Weigh In On Ferroglobe

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System bought a new position in shares of Ferroglobe in the 2nd quarter valued at $27,000. Quadrant Capital Group LLC raised its holdings in shares of Ferroglobe by 66.1% during the 4th quarter. Quadrant Capital Group LLC now owns 7,902 shares of the basic materials company's stock worth $37,000 after buying an additional 3,146 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Ferroglobe by 1,017,300.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company's stock worth $37,000 after buying an additional 10,173 shares during the last quarter. R Squared Ltd bought a new stake in shares of Ferroglobe during the 1st quarter worth $44,000. Finally, PDT Partners LLC acquired a new stake in Ferroglobe in the second quarter valued at about $44,000. 89.64% of the stock is currently owned by institutional investors.

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.

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