Ferroglobe (NASDAQ:GSM) Stock Breaks Above Two Hundred Day Moving Average - What's Next?

Key Points

• Ferroglobe shares moved above their 200-day moving average of $4.02, reaching an intraday high of $4.17 before last trading at $3.9850 on volume exceeding 1 million shares.
• Analyst sentiment remains mixed, with one Buy, one Hold and one Sell rating; the consensus rating is Hold, with an average price target of $6.00.
• The company recently paid a quarterly dividend of $0.015 per share, equal to a $0.06 annualized payout and a 1.5% yield, while an insider separately sold 32,292 shares at an average price of $4.30.

Ferroglobe PLC (NASDAQ:GSM - Get Free Report) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $4.02 and traded as high as $4.17. Ferroglobe shares last traded at $3.9850, with a volume of 1,044,160 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GSM shares. Weiss Ratings downgraded shares of Ferroglobe from a "sell (d)" rating to a "sell (d-)" rating in a research report on Tuesday, August 4th. Wall Street Zen downgraded shares of Ferroglobe from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $6.00.

Ferroglobe Price Performance

The company has a 50-day moving average price of $4.07 and a two-hundred day moving average price of $4.02. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.74. The company has a market cap of $743.72 million, a PE ratio of -18.11 and a beta of 1.00.

Ferroglobe Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 22nd were given a dividend of $0.0150 per share. The ex-dividend date of this dividend was Tuesday, September 22nd. This represents a $0.06 annualized dividend and a yield of 1.5%. Ferroglobe's payout ratio is -27.27%.

Insider Transactions at Ferroglobe

In other news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of Ferroglobe stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $4.30, for a total transaction of $138,855.60. Following the sale, the insider owned 31,693 shares in the company, valued at $136,279.90. This trade represents a 50.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ferroglobe

Large investors have recently added to or reduced their stakes in the company. Irenic Capital Management LP purchased a new stake in Ferroglobe during the 4th quarter worth $46,000. R Squared Ltd purchased a new position in Ferroglobe in the 1st quarter valued at about $44,000. PFG Investments LLC purchased a new position in Ferroglobe in the 1st quarter valued at about $45,000. Master S Wealth Management Inc. acquired a new stake in shares of Ferroglobe during the first quarter valued at about $51,000. Finally, PDT Partners LLC acquired a new stake in shares of Ferroglobe during the second quarter valued at about $44,000. 89.64% of the stock is owned by institutional investors and hedge funds.

About Ferroglobe

Ferroglobe PLC NASDAQ: GSM is a global producer of silicon and specialty metals used in the manufacturing, automotive, chemical, construction, energy and technology industries. The company produces silicon metal, ferrosilicon, manganese alloys and other silicon-based alloys that help improve the strength, performance and durability of steel and aluminum products.

Its product portfolio also includes calcium silicon, inoculants and other specialty alloy products, as well as quartz and related raw materials used in silicon and alloy production.

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