Short Interest in Ferroglobe PLC (NASDAQ:GSM) Expands By 25.8%

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

Ferroglobe Stock Performance

Shares of NASDAQ:GSM opened at $3.78 on Tuesday. The company has a market capitalization of $708.50 million, a PE ratio of 15.75 and a beta of 1.86. The company has a current ratio of 1.83, a quick ratio of 1.00 and a debt-to-equity ratio of 0.02. Ferroglobe has a 12-month low of $3.68 and a 12-month high of $6.72. The business’s fifty day simple moving average is $4.22 and its 200-day simple moving average is $4.62.

Ferroglobe (NASDAQ:GSM) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.05). The company had revenue of $433.53 million during the quarter, compared to analysts’ expectations of $443.50 million. Ferroglobe had a net margin of 2.74% and a return on equity of 7.55%. During the same quarter last year, the firm earned $0.27 EPS. As a group, equities research analysts predict that Ferroglobe will post 0.28 earnings per share for the current fiscal year.

Ferroglobe Dividend Announcement

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

Hedge Funds Weigh In On Ferroglobe

Several institutional investors and hedge funds have recently bought and sold shares of GSM. Barclays PLC acquired a new stake in Ferroglobe in the third quarter worth about $44,000. Old West Investment Management LLC increased its stake in Ferroglobe by 158.0% during the 3rd quarter. Old West Investment Management LLC now owns 2,908,501 shares of the basic materials company’s stock valued at $13,495,000 after purchasing an additional 1,781,024 shares in the last quarter. Orion Portfolio Solutions LLC purchased a new position in shares of Ferroglobe in the third quarter worth $99,000. XTX Topco Ltd purchased a new stake in shares of Ferroglobe during the third quarter valued at $150,000. Finally, State Street Corp increased its holdings in shares of Ferroglobe by 1.6% in the third quarter. State Street Corp now owns 163,238 shares of the basic materials company’s stock valued at $757,000 after purchasing an additional 2,615 shares during the period. 89.64% of the stock is owned by hedge funds and other 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.