Seaport Res Ptn Downgrades Ferroglobe (NASDAQ:GSM) to Hold

Ferroglobe (NASDAQ:GSM) was downgraded by equities research analysts at Seaport Res Ptn from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports. Seaport Res Ptn also issued estimates for Ferroglobe’s Q4 2024 earnings at $0.02 EPS, Q1 2025 earnings at $0.00 EPS, Q2 2025 earnings at $0.01 EPS, FY2025 earnings at $0.15 EPS and FY2026 earnings at $0.55 EPS.

Separately, StockNews.com downgraded shares of Ferroglobe from a “buy” rating to a “hold” rating in a research report on Friday, February 21st.

Ferroglobe Stock Performance

Shares of GSM opened at $3.59 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.82 and a debt-to-equity ratio of 0.02. The stock has a market cap of $674.51 million, a P/E ratio of 179.50 and a beta of 1.83. The business’s 50 day moving average price is $3.91 and its 200-day moving average price is $4.21. Ferroglobe has a 52 week low of $3.45 and a 52 week high of $6.19.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.04. The firm had revenue of $367.51 million during the quarter, compared to the consensus estimate of $393.00 million. Ferroglobe had a return on equity of 6.36% and a net margin of 0.32%. Equities research analysts anticipate that Ferroglobe will post 0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Old West Investment Management LLC grew its position in Ferroglobe by 158.0% in the 3rd quarter. Old West Investment Management LLC now owns 2,908,501 shares of the basic materials company’s stock worth $13,495,000 after purchasing an additional 1,781,024 shares during the period. Barclays PLC purchased a new position in shares of Ferroglobe in the 3rd quarter worth $44,000. State Street Corp boosted its stake in shares of Ferroglobe by 1.6% in the 3rd quarter. State Street Corp now owns 163,238 shares of the basic materials company’s stock worth $757,000 after buying an additional 2,615 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Ferroglobe by 1,180.4% in the third quarter. Point72 Asset Management L.P. now owns 399,500 shares of the basic materials company’s stock worth $1,854,000 after acquiring an additional 368,300 shares during the period. Finally, Maverick Capital Ltd. increased its position in Ferroglobe by 60.3% during the third quarter. Maverick Capital Ltd. now owns 369,540 shares of the basic materials company’s stock valued at $1,715,000 after acquiring an additional 139,002 shares during the last quarter. 89.64% of the stock is 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.