Ferroglobe PLC (NASDAQ:GSM) Short Interest Update

Ferroglobe PLC (NASDAQ:GSM) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 2,570,000 shares, a drop of 15.5% from the August 15th total of 3,040,000 shares. Based on an average daily trading volume, of 1,190,000 shares, the short-interest ratio is currently 2.2 days. Approximately 2.3% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

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

Ferroglobe Price Performance

GSM stock traded up $0.02 on Wednesday, hitting $4.20. 983,748 shares of the company’s stock traded hands, compared to its average volume of 1,371,434. Ferroglobe has a 1-year low of $4.07 and a 1-year high of $6.78. The stock has a market cap of $787.22 million, a price-to-earnings ratio of 12.35 and a beta of 1.83. The company has a current ratio of 1.63, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02. The stock has a fifty day moving average of $4.80 and a 200-day moving average of $5.11.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings results on Monday, August 5th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. Ferroglobe had a net margin of 4.11% and a return on equity of 11.27%. The business had revenue of $451.05 million for the quarter, compared to analyst estimates of $425.55 million. During the same quarter in the previous year, the business earned $0.30 earnings per share. On average, analysts forecast that Ferroglobe will post 0.28 EPS for the current fiscal year.

Ferroglobe Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.013 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.24%. Ferroglobe’s dividend payout ratio is 14.71%.

Hedge Funds Weigh In On Ferroglobe

Large investors have recently made changes to their positions in the business. Covestor Ltd increased its holdings in Ferroglobe by 266.1% in the first quarter. Covestor Ltd now owns 5,316 shares of the basic materials company’s stock worth $26,000 after buying an additional 3,864 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Ferroglobe during the 1st quarter valued at $53,000. Legacy Capital Group California Inc. acquired a new stake in shares of Ferroglobe in the 2nd quarter valued at $60,000. Hood River Capital Management LLC bought a new stake in Ferroglobe in the first quarter worth $73,000. Finally, Banco Santander S.A. acquired a new position in Ferroglobe during the second quarter worth $80,000. Institutional investors and hedge funds own 89.64% of the company’s stock.

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.