Ferroglobe (NASDAQ:GSM) Shares Gap Up - What's Next?

Key Points

• Ferroglobe shares jumped 17.8%, opening at $3.92 versus a prior close of $3.42 and later trading near $3.84 on volume of about 600,608 shares.
• Analyst sentiment remains mixed: ratings include one Buy, one Hold and one Sell, resulting in a consensus “Hold” rating and a $6.00 target price. Weiss Ratings separately reiterated a “sell (d)” rating.
• The company reported a quarterly loss of $0.07 per share on $347.75 million in revenue, while analysts expect a full-year loss of $0.14 per share. Institutional investors own approximately 89.64% of Ferroglobe’s stock.

Ferroglobe PLC (NASDAQ:GSM - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $3.42, but opened at $3.92. Ferroglobe shares last traded at $3.84, with a volume of 600,608 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Ferroglobe in a research report on Friday, June 26th. 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $6.00.

Ferroglobe Trading Up 17.8%

The firm has a market cap of $752.12 million, a PE ratio of -6.72 and a beta of 1.02. The business has a 50-day moving average price of $3.61 and a two-hundred day moving average price of $4.24. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.43 and a quick ratio of 0.80.

Ferroglobe (NASDAQ:GSM - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share (EPS) for the quarter. The firm had revenue of $347.75 million for the quarter. Ferroglobe had a negative return on equity of 5.63% and a negative net margin of 8.09%. Analysts forecast that Ferroglobe PLC will post -0.14 EPS for the current year.

Institutional Trading of Ferroglobe

Several institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC grew its position in shares of Ferroglobe by 7.5% in the first quarter. Empowered Funds LLC now owns 879,237 shares of the basic materials company's stock valued at $3,622,000 after purchasing an additional 61,474 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Ferroglobe by 10.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 157,461 shares of the basic materials company's stock valued at $649,000 after buying an additional 14,422 shares in the last quarter. Sei Investments Co. grew its holdings in Ferroglobe by 67.0% during the 1st quarter. Sei Investments Co. now owns 639,440 shares of the basic materials company's stock valued at $2,634,000 after buying an additional 256,449 shares during the last quarter. Globeflex Capital L P acquired a new stake in Ferroglobe during the 1st quarter valued at $134,000. Finally, Bastion Asset Management Inc. acquired a new stake in Ferroglobe during the 1st quarter valued at $4,155,000. Hedge funds and other institutional investors own 89.64% of the company's stock.

Ferroglobe Company Profile

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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