Globe Specialty Metals Inc. (GSM) Sees Large Increase in Short Interest

Globe Specialty Metals Inc. (NASDAQ:GSM) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totalling 6,358,156 shares, an increase of 30.9% from the August 31st total of 4,856,446 shares. Based on an average trading volume of 720,766 shares, the short-interest ratio is presently 8.8 days. Approximately 10.0% of the shares of the stock are short sold.

Several analysts have weighed in on the company. B. Riley reaffirmed a “neutral” rating and issued a $8.50 price target on shares of Globe Specialty Metals in a report on Sunday, September 4th. Stifel Nicolaus lowered their price target on Globe Specialty Metals from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, August 29th. Zacks Investment Research raised Globe Specialty Metals from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. Jefferies Group raised Globe Specialty Metals from a “hold” rating to a “buy” rating and lowered their price target for the company from $19.00 to $11.00 in a report on Monday, June 13th. Finally, Robert W. Baird raised Globe Specialty Metals from a “neutral” rating to a “buy” rating in a report on Monday, September 19th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Globe Specialty Metals has an average rating of “Buy” and a consensus target price of $12.38.

Globe Specialty Metals (NASDAQ:GSM) opened at 9.21 on Thursday. Globe Specialty Metals has a 52-week low of $6.90 and a 52-week high of $14.48. The company’s market capitalization is $1.58 billion. The company’s 50-day moving average price is $8.87 and its 200 day moving average price is $9.03.

Globe Specialty Metals (NASDAQ:GSM) last released its quarterly earnings results on Friday, August 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.03. On average, equities analysts expect that Globe Specialty Metals will post ($0.09) EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend was Monday, September 12th.

Globe Specialty Metals Company Profile

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.

5 Day Chart for NASDAQ:GSM

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