Ferroglobe (NASDAQ:GSM) Downgraded by StockNews.com to “Hold”

Ferroglobe (NASDAQ:GSM) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Ferroglobe Stock Up 0.5 %

NASDAQ:GSM traded up $0.03 during trading hours on Tuesday, hitting $5.52. 1,748,929 shares of the company’s stock traded hands, compared to its average volume of 1,470,271. The firm has a market cap of $1.03 billion, a P/E ratio of 16.24 and a beta of 1.87. Ferroglobe has a twelve month low of $4.26 and a twelve month high of $6.78. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.02 and a current ratio of 1.74. The stock’s fifty day moving average price is $5.57 and its two-hundred day moving average price is $5.41.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Ritholtz Wealth Management bought a new stake in shares of Ferroglobe during the 4th quarter worth about $308,000. Schwartz Investment Counsel Inc. bought a new stake in shares of Ferroglobe during the 4th quarter worth about $2,730,000. Counterpoint Mutual Funds LLC bought a new stake in shares of Ferroglobe during the 4th quarter worth about $247,000. Jump Financial LLC bought a new stake in shares of Ferroglobe during the 4th quarter worth about $575,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Ferroglobe during the 4th quarter worth about $366,000. 89.64% of the stock is owned by institutional investors and hedge funds.

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.