Ferroglobe (NASDAQ:GSM) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Ferroglobe PLC (NASDAQ:GSM)’s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $4.02 and traded as high as $4.26. Ferroglobe shares last traded at $4.19, with a volume of 1,075,769 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wall Street Zen raised Ferroglobe from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings downgraded shares of Ferroglobe from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $6.00.

Ferroglobe Price Performance

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’s 50-day simple moving average is $4.21 and its 200-day simple moving average is $4.02. The stock has a market capitalization of $791.29 million, a P/E ratio of -19.27 and a beta of 1.06.

Ferroglobe Dividend Announcement

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 dividend on an annualized basis and a yield of 1.4%. Ferroglobe’s dividend payout ratio is currently -27.27%.

Insider Activity at Ferroglobe

In other Ferroglobe news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $4.30, for a total value of $138,855.60. Following the transaction, the insider directly owned 31,693 shares of the company’s stock, valued at $136,279.90. This trade 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 the SEC website. Insiders own 13.07% of the company’s stock.

Hedge Funds Weigh In On Ferroglobe

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. bought a new stake in shares of Ferroglobe during the second quarter worth about $25,843,000. Ardsley Advisory Partners LP bought a new position in Ferroglobe in the 4th quarter valued at approximately $9,837,000. Man Investment Partners US LP bought a new position in Ferroglobe in the 4th quarter valued at approximately $6,021,000. Bastion Asset Management Inc. acquired a new stake in Ferroglobe during the 1st quarter worth approximately $4,155,000. Finally, Empowered Funds LLC boosted its position in Ferroglobe by 7.5% during the 1st quarter. Empowered Funds LLC now owns 879,237 shares of the basic materials company’s stock worth $3,622,000 after buying an additional 61,474 shares during the period. Institutional investors own 89.64% of the company’s stock.

About Ferroglobe

Ferroglobe PLC (NASDAQ:GSM) is a global producer of silicon and manganese-based products used in the manufacture of aluminum, steel, silicones and other industrial materials. Its product portfolio includes silicon metal, ferrosilicon, manganese alloys, calcium silicon and other specialty alloys, as well as silica fume and related products.

The company serves customers across industries such as automotive, construction, renewable energy, consumer products and chemicals. Its materials are used to improve the strength and performance of steel and aluminum, support silicone production and contribute to other metallurgical and industrial applications.

Ferroglobe was formed in 2015 through the combination of Globe Specialty Metals and Grupo FerroAtlántica.