Massachusetts Financial Services.. recently announced the acquisition of new stake in Ferroglobe PLC (NASDAQ:GSM). The institutional investor has increased its shareholding in the Basic Materials company by 16.39% to 3.63 million shares with purchase of 0.51 million shares. This fresh investment now brings its stake to 2.15% valued currently at $1.76 million. In addition, Columbia Management Investment Ad.. raised its holdings by 0.12 million to 3.19 million shares. And Royce & Associates LP has lifted its position by 7.24% or 0.15 million shares – to 2.29 million shares.
With over 1.22 million Ferroglobe PLC (GSM) shares trading Monday and a closing price of $0.49 on the day, the dollar volume was approximately $0.6 million. The shares have shown a positive weekly performance of 3.29% and its price on 08/31/20 lost nearly -3.41%. Currently, there are 169.25M common shares owned by the public and among those 71.41M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for GSM have a consensus price objective of $1.08. The analysts have set the share’s price value over the next 12 months at a high of $1.25 and a low of $0.90 should the stock experience a downside. Incidentally, analysts’ outlook for the Ferroglobe PLC stock is 3.00 for the next 12 months. But an upside of 60.8% will see the stock hit the forecast high price target while mean target price for the stock is $1.08.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Ferroglobe PLC are American Beacon Small Cap Value F, MFS New Discovery Value Fund, and Columbia Small Cap Value Fund I. American Beacon Small Cap Value F owns 2.8 million shares of the company’s stock, all valued at over $1.36 million. Columbia Small Cap Value Fund I bought 0.14 million shares to bring its total holdings to over 1.32 million shares at a value of $0.64 million. Columbia Small Cap Value Fund I now owns shares totaling to 0.78% of the shares outstanding.
Shares of Ferroglobe PLC (NASDAQ: GSM) opened at $0.48, down -$0.03 from a prior closing price of $0.51. However, the script later closed the day at $0.49, down -3.41%. The company’s stock has a 5-day price change of 3.29% and -31.93% over the past three months. GSM shares are trading -47.86% year to date (YTD), with the 12-month market performance down to -62.59% lower. It has a 12-month low price of $0.35 and touched a high of $1.42 over the same period. Currently, 1.22 million shares have been traded, compared to an average intraday trading volume of 1.18 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.37%, -3.36%, and -26.03% respectively.
Institutional ownership of Ferroglobe PLC (NASDAQ: GSM) shares accounts for 25.10% of the company’s 169.25M shares outstanding. Mutual fund holders own 14.13%, while other institutional holders and individual stakeholders account for 5.17% and 10.30% respectively.
It has a market capitalization of $78.88M and a beta (3y monthly) value of 2.38. The earnings-per-share (ttm) stands at -$2.26. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.45% over the week and 7.93% over the month.
Analysts forecast that Ferroglobe PLC (GSM) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2021. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.13 a year ago. EPS should grow at an annualized rate of 20.00% over the next five years, compared to -56.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Ferroglobe PLC (GSM) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 2 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the GSM, a number of firms have released research notes about the stock. Stifel stated their Hold rating for the stock in a research note on September 16, 2019, with the firm’s price target at. Jefferies coverage for the Ferroglobe PLC (GSM) stock in a research note released on February 14, 2019 offered a Hold rating with a price target of. Oppenheimer was of a view on November 27, 2018 that the stock is Perform, while JP Morgan gave the stock Overweight rating on March 26, 2018, issuing a price target of. B. Riley FBR Inc. on their part issued Buy rating on November 29, 2017.