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

Ferroglobe PLC (NASDAQ:GSM) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 2,110,000 shares, an increase of 25.6% from the May 31st total of 1,680,000 shares. Based on an average trading volume of 1,380,000 shares, the days-to-cover ratio is currently 1.5 days. Currently, 1.9% of the shares of the stock are sold short.

Hedge Funds Weigh In On Ferroglobe

A number of large investors have recently added to or reduced their stakes in the business. Covestor Ltd boosted its stake in shares of Ferroglobe by 266.1% during the first quarter. Covestor Ltd now owns 5,316 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 3,864 shares during the period. Mutual Advisors LLC purchased a new stake in Ferroglobe during the 3rd quarter valued at $52,000. Virtu Financial LLC purchased a new stake in Ferroglobe during the 1st quarter valued at $53,000. Hood River Capital Management LLC bought a new stake in Ferroglobe in the 1st quarter worth $73,000. Finally, Aigen Investment Management LP purchased a new position in shares of Ferroglobe in the fourth quarter valued at about $109,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.

Ferroglobe Stock Up 2.4 %

Shares of GSM opened at $5.49 on Tuesday. Ferroglobe has a 1 year low of $4.26 and a 1 year high of $6.78. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.02. The stock has a 50 day simple moving average of $5.56 and a two-hundred day simple moving average of $5.42. The firm has a market cap of $1.03 billion, a P/E ratio of 16.15 and a beta of 1.87.

Ferroglobe Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Monday, June 17th were paid a $0.013 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.95%. Ferroglobe’s dividend payout ratio (DPR) is 14.71%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Ferroglobe from a “hold” rating to a “buy” rating in a report on Monday, May 20th.

Ferroglobe Company Profile

Ferroglobe PLC operates in the silicon and specialty metals industry 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, 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.