Ferroglobe (NASDAQ:GSM) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Ferroglobe PLC (NASDAQ:GSM) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-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.

Analysts Set New Price Targets

Several research firms have recently weighed in on GSM. Weiss Ratings downgraded Ferroglobe from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. Wall Street Zen lowered shares of Ferroglobe from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. One 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 presently has a consensus rating of “Hold” and a consensus price target of $6.00.

Ferroglobe Stock Performance

The stock’s 50-day moving average is $4.09 and its 200 day moving average is $4.01. The stock has a market cap of $788.51 million, a price-to-earnings ratio of -19.20 and a beta of 1.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.74.

Ferroglobe Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 22nd were issued a $0.0150 dividend. The ex-dividend date of this dividend was Tuesday, September 22nd. This represents a $0.06 annualized dividend and a yield of 1.4%. Ferroglobe’s dividend payout ratio is -27.27%.

Insider Activity at Ferroglobe

In related news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $4.30, for a total value of $138,855.60. Following the sale, the insider owned 31,693 shares of the company’s stock, valued at approximately $136,279.90. This represents a 50.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ferroglobe

Institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new position in shares of Ferroglobe during the 2nd quarter valued at about $544,000. PDT Partners LLC purchased a new stake in Ferroglobe during the second quarter valued at about $44,000. Donald Smith & CO. Inc. acquired a new stake in Ferroglobe during the second quarter worth about $25,843,000. Empowered Funds LLC lifted its stake in shares of Ferroglobe by 7.5% in the 1st 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 in the last quarter. Finally, Sei Investments Co. lifted its position in Ferroglobe by 67.0% during the first 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 in the last quarter. Institutional investors and hedge funds own 89.64% of the company’s stock.

Ferroglobe Company Profile

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.