Zacks Research Downgrades Ferroglobe (NASDAQ:GSM) to Strong Sell

Ferroglobe (NASDAQ:GSM) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

GSM has been the subject of a number of other reports. Wall Street Zen raised Ferroglobe from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. B. Riley decreased their price objective on shares of Ferroglobe from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Ferroglobe in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $6.00.

Ferroglobe Stock Performance

NASDAQ GSM opened at $3.82 on Wednesday. Ferroglobe has a 52-week low of $2.97 and a 52-week high of $5.74. The firm has a market capitalization of $712.91 million, a price-to-earnings ratio of -6.70 and a beta of 1.83. The company’s fifty day moving average is $4.59 and its two-hundred day moving average is $4.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.56 and a quick ratio of 0.98.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.07). The business had revenue of $311.70 million during the quarter, compared to analyst estimates of $393.80 million. Ferroglobe had a negative return on equity of 2.85% and a negative net margin of 6.99%. Equities research analysts forecast that Ferroglobe will post 0.33 EPS for the current year.

Institutional Trading of Ferroglobe

Large investors have recently bought and sold shares of the business. Boston Partners increased its holdings in Ferroglobe by 8.0% during the 3rd quarter. Boston Partners now owns 449,281 shares of the basic materials company’s stock worth $2,044,000 after purchasing an additional 33,236 shares in the last quarter. UBS Group AG raised its position in Ferroglobe by 81.8% in the 3rd quarter. UBS Group AG now owns 474,915 shares of the basic materials company’s stock valued at $2,161,000 after buying an additional 213,743 shares during the last quarter. BNP Paribas Financial Markets raised its position in Ferroglobe by 402.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 51,083 shares of the basic materials company’s stock valued at $232,000 after buying an additional 40,909 shares during the last quarter. Franklin Resources Inc. acquired a new position in Ferroglobe during the 3rd quarter worth approximately $519,000. Finally, Legal & General Group Plc raised its holdings in shares of Ferroglobe by 11.5% in the third quarter. Legal & General Group Plc now owns 144,111 shares of the basic materials company’s stock valued at $656,000 after purchasing an additional 14,867 shares during the last quarter. 89.64% of the stock is owned by institutional investors.

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.