Ferroglobe (NASDAQ:GSM) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• Ferroglobe PLC shares have surpassed their 200-day moving average, trading at $4.35 after a peak of $4.47, indicating positive momentum in the stock price.
• Despite recent stock performance, Wall Street Zen downgraded Ferroglobe from a "hold" to a "sell" rating, reflecting cautious sentiment among analysts.
• The company's quarterly earnings reported a loss of ($0.08) per share, missing expectations, and its market cap stands at approximately $811.82 million.

Ferroglobe PLC (NASDAQ:GSM - Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.96 and traded as high as $4.47. Ferroglobe shares last traded at $4.35, with a volume of 913,166 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Ferroglobe from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold".

Ferroglobe Price Performance

The firm has a market cap of $811.82 million, a PE ratio of -7.63 and a beta of 1.69. The company has a quick ratio of 0.98, a current ratio of 1.56 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average price of $4.25 and a two-hundred day moving average price of $3.96.

Ferroglobe (NASDAQ:GSM - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The basic materials company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $386.86 million for the quarter, compared to analysts' expectations of $398.00 million. As a group, equities analysts expect that Ferroglobe PLC will post 0.33 earnings per share for the current year.

Ferroglobe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.014 per share. The ex-dividend date was Monday, September 22nd. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.3%. Ferroglobe's payout ratio is presently -8.77%.

Institutional Investors Weigh In On Ferroglobe

A number of large investors have recently modified their holdings of the business. Grizzlyrock Capital LLC boosted its position in Ferroglobe by 4.3% in the second quarter. Grizzlyrock Capital LLC now owns 4,540,272 shares of the basic materials company's stock valued at $16,663,000 after buying an additional 187,000 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Ferroglobe by 1,017,300.0% in the second 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 during the last quarter. Balyasny Asset Management L.P. purchased a new stake in Ferroglobe in the second quarter valued at approximately $825,000. AYAL Capital Advisors Ltd boosted its position in Ferroglobe by 5.0% in the second quarter. AYAL Capital Advisors Ltd now owns 1,497,438 shares of the basic materials company's stock valued at $5,496,000 after buying an additional 71,123 shares during the last quarter. Finally, California State Teachers Retirement System purchased a new stake in Ferroglobe in the second quarter valued at approximately $27,000. 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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