Ferroglobe PLC (NASDAQ:GSM) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 4,091,053 shares, a growth of 41.5% from the October 13th total of 2,891,448 shares. Currently, 5.8% of the company’s shares are sold short. Based on an average daily trading volume, of 690,789 shares, the days-to-cover ratio is currently 5.9 days.

A number of large investors have recently added to or reduced their stakes in the stock. Budros Ruhlin & Roe Inc. boosted its holdings in Ferroglobe PLC by 44.4% in the third quarter. Budros Ruhlin & Roe Inc. now owns 19,636 shares of the basic materials company’s stock valued at $258,000 after purchasing an additional 6,033 shares during the period. JPMorgan Chase & Co. boosted its holdings in Ferroglobe PLC by 9.8% in the third quarter. JPMorgan Chase & Co. now owns 231,552 shares of the basic materials company’s stock valued at $3,026,000 after purchasing an additional 20,578 shares during the period. Legal & General Group Plc boosted its holdings in Ferroglobe PLC by 108.3% in the third quarter. Legal & General Group Plc now owns 10,385 shares of the basic materials company’s stock valued at $137,000 after purchasing an additional 5,400 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in Ferroglobe PLC by 30.6% in the third quarter. Oppenheimer & Co. Inc. now owns 15,912 shares of the basic materials company’s stock valued at $209,000 after purchasing an additional 3,725 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Ferroglobe PLC in the third quarter valued at $351,000. Hedge funds and other institutional investors own 38.27% of the company’s stock.

A number of equities research analysts have recently weighed in on GSM shares. B. Riley reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Ferroglobe PLC in a research note on Sunday, September 3rd. Stifel Nicolaus reaffirmed a “buy” rating on shares of Ferroglobe PLC in a research note on Sunday, September 3rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $16.75 price objective (down from $17.00) on shares of Ferroglobe PLC in a research note on Thursday, August 31st. Zacks Investment Research raised Ferroglobe PLC from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday, August 23rd. Finally, BidaskClub cut Ferroglobe PLC from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Ferroglobe PLC presently has an average rating of “Buy” and an average price target of $16.20.

Ferroglobe PLC (NASDAQ GSM) opened at $15.20 on Friday. Ferroglobe PLC has a fifty-two week low of $8.54 and a fifty-two week high of $16.48. The company has a quick ratio of 1.42, a current ratio of 2.51 and a debt-to-equity ratio of 0.52.

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About Ferroglobe PLC

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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