Investors Purchase High Volume of Ferroglobe Call Options (GSM)

Ferroglobe PLC (NASDAQ:GSM) was the target of some unusual options trading activity on Wednesday. Stock traders bought 7,733 call options on the stock. This is an increase of 2,807% compared to the average daily volume of 266 call options.

Shares of Ferroglobe (NASDAQ GSM) opened at $15.38 on Thursday. Ferroglobe has a one year low of $8.54 and a one year high of $17.61. The company has a market cap of $2,642.87, a P/E ratio of -56.96 and a beta of 1.54. The company has a current ratio of 1.80, a quick ratio of 1.09 and a debt-to-equity ratio of 0.45.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Monday, November 27th. The basic materials company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. The business had revenue of $451.60 million during the quarter, compared to analyst estimates of $435.15 million. Ferroglobe had a negative net margin of 2.84% and a negative return on equity of 0.75%. The firm’s quarterly revenue was up 23.8% on a year-over-year basis. equities analysts predict that Ferroglobe will post 0.13 EPS for the current year.

Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in shares of Ferroglobe by 2.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,249,451 shares of the basic materials company’s stock valued at $55,922,000 after acquiring an additional 109,552 shares in the last quarter. Boston Partners lifted its position in shares of Ferroglobe by 0.6% in the 4th quarter. Boston Partners now owns 4,226,331 shares of the basic materials company’s stock valued at $68,466,000 after acquiring an additional 26,797 shares in the last quarter. Paradice Investment Management LLC lifted its position in shares of Ferroglobe by 5.9% in the 4th quarter. Paradice Investment Management LLC now owns 3,513,035 shares of the basic materials company’s stock valued at $56,911,000 after acquiring an additional 194,861 shares in the last quarter. Deprince Race & Zollo Inc. lifted its position in shares of Ferroglobe by 0.3% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 2,701,416 shares of the basic materials company’s stock valued at $35,551,000 after acquiring an additional 7,563 shares in the last quarter. Finally, Corsair Capital Management L.P. lifted its position in shares of Ferroglobe by 2.0% in the 4th quarter. Corsair Capital Management L.P. now owns 1,455,454 shares of the basic materials company’s stock valued at $23,578,000 after acquiring an additional 28,725 shares in the last quarter. Institutional investors and hedge funds own 40.05% of the company’s stock.

GSM has been the subject of several recent research reports. Stifel Nicolaus increased their target price on shares of Ferroglobe from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. B. Riley reissued a “buy” rating and set a $20.00 target price (up from $16.00) on shares of Ferroglobe in a research note on Wednesday, November 22nd. BidaskClub lowered shares of Ferroglobe from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 6th. Jefferies Group set a $18.00 target price on shares of Ferroglobe and gave the company a “buy” rating in a research note on Tuesday, November 28th. Finally, ValuEngine lowered shares of Ferroglobe from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $19.25.

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Ferroglobe Company Profile

Ferroglobe PLC, formerly VeloNewco Limited, is engaged in silicon and specialty metals industry. The Company produces silicon metal and silicon- and manganese-based alloy, which serves customers in the chemical, aluminum, solar, steel and ductile iron foundry industries. It operates through two segments: Electrometallurgy and Energy.

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