Ferroglobe (GSM) Upgraded to Sell at BidaskClub

BidaskClub upgraded shares of Ferroglobe (NASDAQ:GSM) from a strong sell rating to a sell rating in a research note published on Monday.

A number of other research firms have also weighed in on GSM. Jefferies Group set a $18.00 target price on Ferroglobe and gave the stock a buy rating in a report on Tuesday, November 28th. Stifel Nicolaus upped their target price on Ferroglobe from $19.00 to $22.00 and gave the stock a buy rating in a report on Thursday, October 26th. B. Riley restated a buy rating and set a $20.00 target price (up previously from $16.00) on shares of Ferroglobe in a report on Wednesday, November 22nd. Zacks Investment Research upgraded Ferroglobe from a hold rating to a buy rating and set a $16.00 target price for the company in a report on Wednesday, October 11th. Finally, ValuEngine lowered Ferroglobe from a hold rating to a sell rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $19.25.

Ferroglobe (NASDAQ:GSM) opened at $14.49 on Monday. Ferroglobe has a 52 week low of $8.54 and a 52 week high of $17.61. The company has a quick ratio of 1.09, a current ratio of 1.80 and a debt-to-equity ratio of 0.45.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Monday, November 27th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Ferroglobe had a negative return on equity of 0.75% and a negative net margin of 2.84%. The company had revenue of $451.60 million for the quarter, compared to analysts’ expectations of $435.15 million. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. analysts anticipate that Ferroglobe will post 0.13 EPS for the current year.

Institutional investors have recently bought and sold shares of the business. Legal & General Group Plc lifted its holdings in Ferroglobe by 108.3% during the third quarter. Legal & General Group Plc now owns 10,385 shares of the basic materials company’s stock worth $137,000 after buying an additional 5,400 shares during the period. Invictus RG purchased a new stake in Ferroglobe during the third quarter worth $146,000. Caxton Associates LP purchased a new stake in shares of Ferroglobe during the 3rd quarter valued at $151,000. Oppenheimer & Co. Inc. lifted its holdings in shares of Ferroglobe by 30.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 15,912 shares of the basic materials company’s stock valued at $209,000 after purchasing an additional 3,725 shares during the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of Ferroglobe by 77.1% during the 3rd quarter. Quantbot Technologies LP now owns 15,913 shares of the basic materials company’s stock valued at $209,000 after purchasing an additional 6,926 shares during the last quarter. Institutional investors own 38.50% of the company’s stock.

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Ferroglobe 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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