StockNews.com Downgrades Ferroglobe (NASDAQ:GSM) to Hold

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

Ferroglobe Price Performance

Shares of NASDAQ:GSM opened at $5.64 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.02. Ferroglobe has a 1-year low of $4.26 and a 1-year high of $6.78. The company has a market capitalization of $1.06 billion, a P/E ratio of 16.59 and a beta of 1.87. The firm’s 50 day simple moving average is $5.58 and its two-hundred day simple moving average is $5.41.

Institutional Investors Weigh In On Ferroglobe

Several large investors have recently bought and sold shares of GSM. Covestor Ltd increased its position in Ferroglobe by 266.1% during the first quarter. Covestor Ltd now owns 5,316 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 3,864 shares during the last quarter. Virtu Financial LLC bought a new position in Ferroglobe during the first quarter valued at $53,000. Hood River Capital Management LLC bought a new position in Ferroglobe during the first quarter valued at $73,000. Aigen Investment Management LP bought a new position in Ferroglobe during the fourth quarter valued at $109,000. Finally, Kathmere Capital Management LLC increased its position in Ferroglobe by 22.4% during the second quarter. Kathmere Capital Management LLC now owns 31,909 shares of the basic materials company’s stock valued at $171,000 after acquiring an additional 5,830 shares during the last quarter. Institutional investors own 89.64% of the company’s stock.

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.