Ferroglobe (NASDAQ:GSM) Trading Up 9.6% – Here’s Why

Ferroglobe PLC (NASDAQ:GSM) rose 9.6% on Monday . The company traded as high as $4.23 and last traded at $4.18. 262,674 shares were traded during trading, a decline of 56% from the average daily volume of 590,733 shares. The stock had previously closed at $3.81.

Ferroglobe Stock Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.83. The firm has a market cap of $772.19 million, a P/E ratio of 17.13 and a beta of 1.83. The stock’s 50-day moving average is $3.98 and its 200 day moving average is $4.29.

Hedge Funds Weigh In On Ferroglobe

A number of large investors have recently added to or reduced their stakes in GSM. Old West Investment Management LLC boosted its position in shares of Ferroglobe by 233.4% during the third quarter. Old West Investment Management LLC now owns 3,758,501 shares of the basic materials company’s stock worth $17,439,000 after buying an additional 2,631,024 shares during the period. Bank of Montreal Can lifted its position in shares of Ferroglobe by 234.5% in the third quarter. Bank of Montreal Can now owns 3,484,201 shares of the basic materials company’s stock worth $15,958,000 after purchasing an additional 2,442,507 shares in the last quarter. Royce & Associates LP boosted its holdings in Ferroglobe by 24.2% during the fourth quarter. Royce & Associates LP now owns 3,387,958 shares of the basic materials company’s stock worth $12,874,000 after purchasing an additional 660,980 shares during the last quarter. River Global Investors LLP bought a new position in Ferroglobe in the fourth quarter valued at $2,408,000. Finally, Donald Smith & CO. Inc. acquired a new stake in Ferroglobe in the 3rd quarter valued at $2,900,000. Institutional investors own 89.64% of the company’s stock.

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.