Ferroglobe (NASDAQ:GSM) Hits New 52-Week Low – Here’s Why

Shares of Ferroglobe PLC (NASDAQ:GSM) reached a new 52-week low on Thursday . The company traded as low as $3.67 and last traded at $3.71, with a volume of 1287640 shares trading hands. The stock had previously closed at $3.82.

Ferroglobe Trading Down 4.8 %

The stock has a 50 day moving average of $3.94 and a 200-day moving average of $4.23. The company has a current ratio of 1.83, a quick ratio of 1.00 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $682.94 million, a P/E ratio of 15.15 and a beta of 1.83.

Ferroglobe (NASDAQ:GSM) last issued its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. Ferroglobe had a return on equity of 7.55% and a net margin of 2.74%. The business had revenue of $367.51 million during the quarter, compared to analyst estimates of $393.00 million. On average, research analysts predict that Ferroglobe PLC will post 0.28 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cooper Creek Partners Management LLC lifted its holdings in shares of Ferroglobe by 2.0% in the fourth quarter. Cooper Creek Partners Management LLC now owns 14,990,483 shares of the basic materials company’s stock worth $56,964,000 after buying an additional 291,201 shares in the last quarter. Hosking Partners LLP lifted its stake in Ferroglobe by 1.8% in the 4th quarter. Hosking Partners LLP now owns 9,004,298 shares of the basic materials company’s stock worth $34,216,000 after purchasing an additional 159,845 shares in the last quarter. Wolf Hill Capital Management LP grew its position in shares of Ferroglobe by 11.0% during the fourth quarter. Wolf Hill Capital Management LP now owns 7,236,693 shares of the basic materials company’s stock valued at $27,499,000 after purchasing an additional 714,726 shares in the last quarter. Donald Smith & CO. Inc. increased its holdings in shares of Ferroglobe by 852.2% in the fourth quarter. Donald Smith & CO. Inc. now owns 5,951,051 shares of the basic materials company’s stock worth $22,614,000 after purchasing an additional 5,326,051 shares during the last quarter. Finally, Old West Investment Management LLC boosted its stake in Ferroglobe by 233.4% during the third quarter. Old West Investment Management LLC now owns 3,758,501 shares of the basic materials company’s stock valued at $17,439,000 after buying an additional 2,631,024 shares during the last quarter. 89.64% of the stock is currently owned by institutional investors.

Ferroglobe Company Profile

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.