Ferroglobe PLC (NASDAQ:GSM) Short Interest Update

Ferroglobe PLC (NASDAQ:GSM) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 2,340,000 shares, an increase of 25.8% from the November 30th total of 1,860,000 shares. Currently, 2.0% of the company’s shares are short sold. Based on an average trading volume of 1,290,000 shares, the short-interest ratio is currently 1.8 days.

Hedge Funds Weigh In On Ferroglobe

Hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC purchased a new position in shares of Ferroglobe during the second quarter worth about $95,000. Ritholtz Wealth Management grew its stake in Ferroglobe by 64.1% during the 2nd quarter. Ritholtz Wealth Management now owns 200,990 shares of the basic materials company’s stock worth $1,077,000 after buying an additional 78,509 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Ferroglobe during the second quarter worth approximately $518,000. Caprock Group LLC purchased a new stake in Ferroglobe in the second quarter valued at approximately $343,000. Finally, Cowen AND Company LLC acquired a new stake in shares of Ferroglobe in the second quarter valued at approximately $2,787,000. 89.64% of the stock is currently owned by hedge funds and other institutional investors.

Ferroglobe Price Performance

GSM stock opened at $3.78 on Tuesday. The firm has a market capitalization of $708.50 million, a P/E ratio of 15.75 and a beta of 1.86. The business’s 50-day moving average is $4.22 and its two-hundred day moving average is $4.62. Ferroglobe has a 1 year low of $3.68 and a 1 year high of $6.72. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.83 and a quick ratio of 1.00.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The business had revenue of $433.53 million during the quarter, compared to analyst estimates of $443.50 million. Ferroglobe had a net margin of 2.74% and a return on equity of 7.55%. During the same quarter in the prior year, the business earned $0.27 earnings per share. Analysts anticipate that Ferroglobe will post 0.28 earnings per share for the current fiscal year.

Ferroglobe Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 20th were paid a dividend of $0.013 per share. This represents a $0.05 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Friday, December 20th. Ferroglobe’s payout ratio is 20.83%.

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.