Ferroglobe PLC (NASDAQ:GSM) Short Interest Update

Ferroglobe PLC (NASDAQ:GSM) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,880,000 shares, a drop of 7.4% from the October 15th total of 2,030,000 shares. Based on an average daily trading volume, of 1,230,000 shares, the short-interest ratio is currently 1.5 days. Approximately 1.6% of the company’s shares are short sold.

Ferroglobe Stock Performance

Ferroglobe stock opened at $4.49 on Wednesday. The stock’s 50-day moving average is $4.35 and its 200-day moving average is $4.96. The company has a market cap of $841.56 million, a price-to-earnings ratio of 18.71 and a beta of 1.88. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.83 and a quick ratio of 1.00. Ferroglobe has a 12 month low of $3.99 and a 12 month high of $6.78.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Wednesday, November 6th. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.05). The company had revenue of $433.53 million for the quarter, compared to analysts’ expectations of $443.50 million. Ferroglobe had a net margin of 2.74% and a return on equity of 7.55%. During the same quarter in the previous year, the business posted $0.27 earnings per share. Equities analysts anticipate that Ferroglobe will post 0.28 earnings per share for the current year.

Ferroglobe Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 20th will be issued a dividend of $0.013 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.05 annualized dividend and a dividend yield of 1.16%. Ferroglobe’s payout ratio is currently 20.83%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Ferroglobe from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th.

Institutional Investors Weigh In On Ferroglobe

Several hedge funds have recently modified their holdings of GSM. Russell Investments Group Ltd. raised its holdings in shares of Ferroglobe by 22.6% during the 1st quarter. Russell Investments Group Ltd. now owns 424,205 shares of the basic materials company’s stock valued at $2,113,000 after buying an additional 78,103 shares during the period. Covestor Ltd increased its holdings in Ferroglobe by 266.1% during the 1st quarter. Covestor Ltd now owns 5,316 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 3,864 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Ferroglobe by 9.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 618,830 shares of the basic materials company’s stock worth $3,082,000 after purchasing an additional 52,909 shares during the last quarter. Hood River Capital Management LLC purchased a new stake in Ferroglobe during the 1st quarter worth approximately $73,000. Finally, Tyro Capital Management LLC increased its holdings in Ferroglobe by 79.4% during the 1st quarter. Tyro Capital Management LLC now owns 1,992,274 shares of the basic materials company’s stock worth $9,922,000 after purchasing an additional 881,976 shares during the last quarter. 89.64% of the stock is currently owned by hedge funds and other institutional investors.

About Ferroglobe

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.