Ferroglobe PLC (NASDAQ:GSM) shares reached a new 52-week low during trading on Friday . The company traded as low as $7.30 and last traded at $7.39, with a volume of 10235 shares trading hands. The stock had previously closed at $7.47.

A number of research firms recently issued reports on GSM. TheStreet downgraded shares of Ferroglobe from a “c-” rating to a “d+” rating in a research report on Friday, June 29th. ValuEngine raised shares of Ferroglobe from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Zacks Investment Research downgraded shares of Ferroglobe from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 25th. Stifel Nicolaus dropped their target price on shares of Ferroglobe from $19.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, July 13th. Finally, BidaskClub raised shares of Ferroglobe from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 23rd. Three investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. Ferroglobe has a consensus rating of “Hold” and an average target price of $16.83.

The company has a market cap of $1.29 billion, a P/E ratio of 56.54 and a beta of 1.50. The company has a quick ratio of 0.66, a current ratio of 1.54 and a debt-to-equity ratio of 0.49.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Monday, May 21st. The basic materials company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.03. The company had revenue of $560.70 million during the quarter, compared to analysts’ expectations of $559.12 million. Ferroglobe had a return on equity of 6.86% and a net margin of 3.59%. analysts expect that Ferroglobe PLC will post 0.87 EPS for the current year.

Several hedge funds have recently bought and sold shares of GSM. Paradice Investment Management LLC increased its position in Ferroglobe by 16.3% in the second quarter. Paradice Investment Management LLC now owns 5,173,241 shares of the basic materials company’s stock worth $44,335,000 after buying an additional 726,887 shares during the period. Quantbot Technologies LP acquired a new stake in Ferroglobe in the first quarter worth $516,000. Tygh Capital Management Inc. increased its position in Ferroglobe by 24.5% in the first quarter. Tygh Capital Management Inc. now owns 421,488 shares of the basic materials company’s stock worth $4,523,000 after buying an additional 82,923 shares during the period. Bluefin Trading LLC acquired a new stake in Ferroglobe in the first quarter worth $701,000. Finally, New York State Common Retirement Fund increased its position in Ferroglobe by 14.1% in the first quarter. New York State Common Retirement Fund now owns 401,555 shares of the basic materials company’s stock worth $4,309,000 after buying an additional 49,719 shares during the period. 43.20% of the stock is currently owned by institutional investors and hedge funds.

About Ferroglobe

Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. The company offers silicone chemicals 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.

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