Ferroglobe PLC (NASDAQ:GSM) Sees Large Increase in Short Interest

Ferroglobe PLC (NASDAQ:GSM) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 9,037,527 shares, a growth of 78.1% from the August 15th total of 5,074,796 shares. Based on an average daily trading volume, of 1,656,887 shares, the short-interest ratio is presently 5.5 days. Currently, 5.3% of the shares of the stock are short sold.

A number of large investors have recently added to or reduced their stakes in the business. Trexquant Investment LP acquired a new position in shares of Ferroglobe during the 1st quarter valued at $125,000. Victory Capital Management Inc. boosted its stake in shares of Ferroglobe by 118.2% during the 1st quarter. Victory Capital Management Inc. now owns 532,327 shares of the basic materials company’s stock worth $5,712,000 after acquiring an additional 288,327 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Ferroglobe by 4.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,031,353 shares of the basic materials company’s stock worth $11,066,000 after acquiring an additional 40,269 shares in the last quarter. Engineers Gate Manager LP boosted its stake in shares of Ferroglobe by 80.2% during the 1st quarter. Engineers Gate Manager LP now owns 97,499 shares of the basic materials company’s stock worth $1,046,000 after acquiring an additional 43,389 shares in the last quarter. Finally, Tygh Capital Management Inc. boosted its stake in shares of Ferroglobe by 24.5% during the 1st quarter. Tygh Capital Management Inc. now owns 421,488 shares of the basic materials company’s stock worth $4,523,000 after acquiring an additional 82,923 shares in the last quarter. Institutional investors and hedge funds own 41.29% of the company’s stock.

Shares of Ferroglobe stock traded down $0.11 during trading on Friday, hitting $7.66. The company’s stock had a trading volume of 514,764 shares, compared to its average volume of 806,755. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.75 and a quick ratio of 0.68. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 58.92 and a beta of 1.53. Ferroglobe has a 52 week low of $6.75 and a 52 week high of $17.61.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings results on Tuesday, August 21st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.05). The business had revenue of $583.00 million during the quarter, compared to the consensus estimate of $608.91 million. Ferroglobe had a return on equity of 8.53% and a net margin of 6.44%. The firm’s revenue was up 36.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.05 earnings per share. On average, equities analysts anticipate that Ferroglobe will post 0.66 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 20th. Shareholders of record on Wednesday, September 5th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, September 4th. This represents a $0.24 dividend on an annualized basis and a yield of 3.13%. Ferroglobe’s dividend payout ratio is currently 184.62%.

GSM has been the subject of a number of research reports. Jefferies Financial Group set a $10.00 price objective on shares of Ferroglobe and gave the company a “buy” rating in a research note on Thursday, August 16th. BidaskClub raised shares of Ferroglobe from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 21st. Zacks Investment Research cut shares of Ferroglobe from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 25th. Stifel Nicolaus dropped their price target on shares of Ferroglobe from $19.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, July 13th. Finally, ValuEngine cut shares of Ferroglobe from a “sell” rating to a “strong sell” rating in a research report on Friday, June 15th. Three research analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Ferroglobe has a consensus rating of “Hold” and a consensus target price of $15.33.

Ferroglobe Company Profile

Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. The company offers silicone chemicals used in a range of applications, including personal care items, construction-related products, health care products, and electronics, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.

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