Ferroglobe (NASDAQ:GSM) Share Price Crosses Above 200-Day Moving Average - Here's Why

Ferroglobe PLC (NASDAQ:GSM - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.99 and traded as high as $5.23. Ferroglobe shares last traded at $5.13, with a volume of 1,605,287 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Weiss Ratings restated a "sell (d)" rating on shares of Ferroglobe in a research note on Saturday, September 27th. Wall Street Zen cut Ferroglobe from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Reduce".

Ferroglobe Trading Up 1.8%

The company has a 50 day simple moving average of $4.27 and a 200 day simple moving average of $3.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.98 and a current ratio of 1.56. The company has a market capitalization of $957.41 million, a PE ratio of -9.00 and a beta of 1.85.

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

Ferroglobe Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were issued a dividend of $0.014 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.1%. Ferroglobe's dividend payout ratio is presently -10.53%.

Institutional Trading of Ferroglobe

Several large investors have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC grew its stake in Ferroglobe by 19.4% during the 2nd 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. SummerHaven Investment Management LLC grew its position in shares of Ferroglobe by 2.8% in the first quarter. SummerHaven Investment Management LLC now owns 136,756 shares of the basic materials company's stock valued at $507,000 after purchasing an additional 3,697 shares in the last quarter. California State Teachers Retirement System purchased a new stake in Ferroglobe in the 2nd quarter valued at $27,000. Creative Financial Designs Inc. ADV purchased a new stake in Ferroglobe in the 1st quarter valued at $37,000. Finally, BNP Paribas Financial Markets grew its holdings in Ferroglobe by 1,017,300.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company's stock valued at $37,000 after buying an additional 10,173 shares in the last quarter. Hedge funds and other 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.

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