Globe Specialty Metals (NASDAQ:GSM) reported a rise of 92.3% or 2,149,310 shares in its short interest. The short figure came in at 7% of the total floats. The average daily volume of 1,397,383 shares suggests that the days to cover 4,478,436 short positions, as on June 15,2016, will be 3. On May 31,2016, the short interest was 2,329,126 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Globe Specialty Metals (NASDAQ:GSM): The stock opened at $8.76 on Friday but the bulls could not build on the opening and the stock topped out at $8.76 for the day. The stock traded down to $8.21 during the day, due to lack of any buying support eventually closed down at $8.49 with a loss of -7.01% for the day. The stock had closed at $9.13 on the previous day. The total traded volume was 2,711,901 shares.
The company shares have dropped -51.82% from its 1 Year high price. On Jun 29, 2015, the shares registered one year high at $18.18 and the one year low was seen on Feb 24, 2016. The 50-Day Moving Average price is $8.88 and the 200 Day Moving Average price is recorded at $9.10.
Globe Specialty Metals (NASDAQ:GSM) has tumbled 4.5% during the past week and has dropped 5.98% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 2.91%. Globe Specialty Metals (NASDAQ:GSM) has underperformed the index by 3.14% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Ferroglobe PLC, formerly VeloNewco Ltd, is a United Kingdom-based company. The Company is engaged in the production of silicon metals and alloys.