Ferroglobe PLC (GSM) Short Interest Update

Ferroglobe PLC (NASDAQ:GSM) was the recipient of a significant increase in short interest in October. As of October 13th, there was short interest totalling 2,891,448 shares, an increase of 57.8% from the September 29th total of 1,832,801 shares. Based on an average daily trading volume, of 839,473 shares, the short-interest ratio is presently 3.4 days. Approximately 4.1% of the company’s shares are sold short.

A number of brokerages have weighed in on GSM. Stifel Nicolaus lifted their price target on shares of Ferroglobe PLC from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. BidaskClub raised shares of Ferroglobe PLC from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 20th. Zacks Investment Research cut shares of Ferroglobe PLC from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Jefferies Group LLC set a $17.00 price target on shares of Ferroglobe PLC and gave the company a “buy” rating in a research report on Thursday, October 5th. Finally, B. Riley reaffirmed a “buy” rating and set a $16.00 price target on shares of Ferroglobe PLC in a research report on Sunday, September 3rd. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $16.20.

Ferroglobe PLC (NASDAQ:GSM) opened at 15.99 on Wednesday. The firm’s 50-day moving average is $14.11 and its 200-day moving average is $12.13. The firm’s market capitalization is $2.75 billion. Ferroglobe PLC has a 12 month low of $8.54 and a 12 month high of $16.48.

A number of large investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. acquired a new position in Ferroglobe PLC during the first quarter valued at approximately $100,000. Budros Ruhlin & Roe Inc. grew its holdings in Ferroglobe PLC by 17.2% during the second quarter. Budros Ruhlin & Roe Inc. now owns 13,603 shares of the basic materials company’s stock valued at $163,000 after purchasing an additional 2,000 shares during the last quarter. American International Group Inc. grew its holdings in Ferroglobe PLC by 7.1% during the first quarter. American International Group Inc. now owns 40,274 shares of the basic materials company’s stock valued at $416,000 after purchasing an additional 2,664 shares during the last quarter. Balter Liquid Alternatives LLC acquired a new position in Ferroglobe PLC during the second quarter valued at approximately $437,000. Finally, HighTower Advisors LLC grew its holdings in Ferroglobe PLC by 0.4% during the second quarter. HighTower Advisors LLC now owns 41,492 shares of the basic materials company’s stock valued at $498,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 38.28% of the company’s stock.

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Ferroglobe PLC Company Profile

Ferroglobe PLC, formerly VeloNewco Limited, is engaged in silicon and specialty metals industry. The Company produces silicon metal and silicon- and manganese-based alloy, which serves customers in the chemical, aluminum, solar, steel and ductile iron foundry industries. It operates through two segments: Electrometallurgy and Energy.

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