Notable Price Action: Does Ferroglobe PLC Have Any Gas After Today’s Significant Decline?

Notable Price Action: Does Ferroglobe PLC Have Any Gas After Today's Significant Decline?

The stock of Ferroglobe PLC (NASDAQ:GSM) is a huge mover today! About 899,170 shares traded hands or 52.02% up from the average. Ferroglobe PLC (NASDAQ:GSM) has risen 15.83% since April 13, 2016 and is uptrending. It has outperformed by 11.90% the S&P500.
The move comes after 6 months negative chart setup for the $1.97 billion company. It was reported on Nov, 15 by Barchart.com. We have $10.72 PT which if reached, will make NASDAQ:GSM worth $98.50 million less.

Ferroglobe PLC (NASDAQ:GSM) Ratings Coverage

Out of 8 analysts covering Globe Specialty Metals (NASDAQ:GSM), 6 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 75% are positive. Globe Specialty Metals has been the topic of 13 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The rating was maintained by B. Riley & Co with “Buy” on Monday, November 9. The rating was upgraded by Robert W. Baird on Monday, September 19 to “Buy”. As per Thursday, August 25, the company rating was downgraded by B. Riley & Co. Briley maintained the stock with “Neutral” rating in Monday, August 29 report. Stifel Nicolaus maintained the shares of GSM in a report on Monday, January 11 with “Buy” rating. The firm earned “Buy” rating on Wednesday, August 5 by Stifel Nicolaus. On Monday, March 21 the stock rating was maintained by JP Morgan with “Overweight”. The firm has “Buy” rating by Stifel Nicolaus given on Tuesday, November 3. Jefferies upgraded Ferroglobe PLC (NASDAQ:GSM) on Monday, June 13 to “Buy” rating. Stifel Nicolaus maintained Ferroglobe PLC (NASDAQ:GSM) rating on Monday, August 29. Stifel Nicolaus has “Buy” rating and $16 price target.

According to Zacks Investment Research, “Globe Specialty Metals, Inc., together with its subsidiary companies, is among the world’s largest producers of silicon metal and silicon-based specialty alloys – critical ingredients in a host of industrial and consumer products with growing markets. The Company’s customers include major silicone chemical, aluminum and steel manufacturers, producers of photovoltaic solar cells and computer chips, the auto industry, ductile iron foundries and concrete producers. Headquartered in New York City, the company has major manufacturing facilities in the U.S. states of Ohio, West Virginia, Alabama and New York, as well as in the Brazilian state of Pará, Mendoza province Argentina and Ningxia province China. Its principal operating subsidiaries are Globe Metallurgical, Inc. and Solsil, Inc. in the U.S.; Globe Metais Indústria e Comércio S.A. in Brazil; Globe Metales S.A. in Argentina; and Ningxia Yonvey Coal Industry Co., Ltd., in China.”

More recent Ferroglobe PLC (NASDAQ:GSM) news were published by: Fool.com which released: “Why Ferroglobe PLC Stock Soared 17.3% Today” on November 10, 2016. Also Globenewswire.com published the news titled: “Ferroglobe PLC Forms Insurance Trust” on November 08, 2016. Streetinsider.com‘s news article titled: “Form 424B3 Ferroglobe PLC” with publication date: November 14, 2016 was also an interesting one.

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