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Ferroglobe PLC (NASDAQ: GSM): Decline Of -188.07% Looks Weak With A Stock Forecast 2023

In the last trading session, 1.35 million shares of the Ferroglobe PLC (NASDAQ:GSM) were traded, and its beta was 2.21. Most recently the company’s share price was $4.86, and it changed around -$0.16 or -3.19% from the last close, which brings the market valuation of the company to $891.32M. GSM currently trades at a discount to its 52-week high of $8.12, offering almost -67.08% off that amount. The share price’s 52-week low was $3.64, which indicates that the current value has risen by an impressive 25.1% since then. We note from Ferroglobe PLC’s average daily trading volume that its 10-day average is 1.26 million shares, with the 3-month average coming to 1.27 million.

Ferroglobe PLC stock received a consensus recommendation rating of a Buy, based on a mean score of 2.00. If we narrow it down even further, the data shows that 0 out of 2 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended GSM as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Ferroglobe PLC is expected to report earnings per share of $0.11 for the current quarter.

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Ferroglobe PLC (NASDAQ:GSM) trade information

Instantly GSM has showed a red trend with a performance of -3.19% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 5.14 on Tuesday, 05/23/23 increased the stock’s daily price by 5.45%. The company’s shares are currently up 26.23% year-to-date, but still up 10.20% over the last five days. On the other hand, Ferroglobe PLC (NASDAQ:GSM) is 19.41% up in the 30-day period. We can see from the shorts that 2.51 million shares have been sold at a short interest cover period of 2.48 day(s).

The consensus price target as assigned by Wall Street analysts is $12.50, which translates to bulls needing to increase their stock price by 61.12% from its current value. Analyst projections state that GSM is forecast to be at a low of $11.00 and a high of $14.00. In order for the stock price to hit the forecast high, the stock would need to plunge -188.07% from its current level, while the stock would need to crash -126.34% from its current level to reach the projected low.

Ferroglobe PLC (GSM) estimates and forecasts

Ferroglobe PLC share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 2.10 percent over the past six months and at a -80.46% annual growth rate that is well below the industry average of 9.00%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will loss -90.40% in revenue this quarter, and will report a decrease of -65.60% in the next quarter. The year-over-year growth rate is expected to be -32.10%, down from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $469.45 million in revenue for the current quarter. 2 analysts expect Ferroglobe PLC to make $468.45 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $840.81 million and $593.22 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -44.20%. Forecasts for the next quarter put sales growth at -21.00%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 76.30%. Ferroglobe PLC earnings are expected to increase by 474.10% in 2023, but the outlook is positive 20.00% per year for the next five years.

GSM Dividends

Ferroglobe PLC’s next quarterly earnings report is expected to be released on May 10.

Ferroglobe PLC (NASDAQ:GSM)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 43.85% of Ferroglobe PLC shares, and 46.37% of them are in the hands of institutional investors. The stock currently has a share float of 82.59%. Ferroglobe PLC stock is held by 117 institutions, with Cooper Creek Partners Management LLC being the largest institutional investor. By Mar 30, 2023, it held 7.49% of the shares, which is about 14.04 million shares worth $69.38 million.

Wolf Hill Capital Management, LP, with 5.00% or 9.38 million shares worth $46.32 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

John Hancock Trust-Disciplined Value International Fund and American Beacon Small Cap Value Fd were the top two Mutual Funds as of Feb 27, 2023. The former held 2.25 million shares worth $11.25 million, making up 1.20% of all outstanding shares. On the other hand, American Beacon Small Cap Value Fd held roughly 1.67 million shares worth around $7.95 million, which represents about 0.89% of the total shares outstanding.

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