Ferroglobe (NASDAQ:GSM) Trading Down 4.7% - Time to Sell?

Ferroglobe PLC (NASDAQ:GSM - Get Free Report) was down 4.7% during mid-day trading on Monday . The stock traded as low as $4.31 and last traded at $4.34. Approximately 405,102 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 1,216,512 shares. The stock had previously closed at $4.55.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Ferroglobe from a "sell" rating to a "hold" rating in a research report on Saturday, May 31st.

Ferroglobe Stock Up 4.8%

The stock's fifty day moving average is $3.94 and its two-hundred day moving average is $3.81. The company has a current ratio of 1.66, a quick ratio of 1.00 and a debt-to-equity ratio of 0.04. The firm has a market cap of $849.15 million, a P/E ratio of -13.79 and a beta of 1.57.

Ferroglobe (NASDAQ:GSM - Get Free Report) last posted its earnings results on Wednesday, May 7th. The basic materials company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.08). The firm had revenue of $307.18 million for the quarter, compared to the consensus estimate of $336.00 million. Ferroglobe had a positive return on equity of 1.93% and a negative net margin of 3.80%. As a group, research analysts anticipate that Ferroglobe PLC will post 0.33 earnings per share for the current year.

Ferroglobe Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Wednesday, June 18th were issued a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Wednesday, June 18th. Ferroglobe's payout ratio is -15.15%.

Hedge Funds Weigh In On Ferroglobe

Several institutional investors and hedge funds have recently made changes to their positions in the business. SummerHaven Investment Management LLC grew its holdings in shares of Ferroglobe by 2.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 140,675 shares of the basic materials company's stock valued at $516,000 after purchasing an additional 3,919 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Ferroglobe by 32.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 331,778 shares of the basic materials company's stock worth $1,231,000 after acquiring an additional 81,611 shares during the last quarter. Millennium Management LLC grew its holdings in Ferroglobe by 168.8% in the 1st quarter. Millennium Management LLC now owns 1,110,759 shares of the basic materials company's stock worth $4,121,000 after acquiring an additional 697,476 shares during the last quarter. Ardsley Advisory Partners LP grew its holdings in Ferroglobe by 8.1% in the 1st quarter. Ardsley Advisory Partners LP now owns 1,802,595 shares of the basic materials company's stock worth $6,688,000 after acquiring an additional 135,000 shares during the last quarter. Finally, AYAL Capital Advisors Ltd grew its holdings in Ferroglobe by 1.1% in the 1st quarter. AYAL Capital Advisors Ltd now owns 1,426,315 shares of the basic materials company's stock worth $5,292,000 after acquiring an additional 15,935 shares during the last quarter. Institutional investors own 89.64% of the company's stock.

Ferroglobe Company Profile

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.