5 Most Volatile Stocks Under $5 For Day Trading

2. Ferroglobe PLC (NASDAQ:GSM)

Number of Hedge Fund Shareholders: 24

5-Year Monthly Beta: 2.15

Hedge funds’ ownership of Ferroglobe PLC (NASDAQ:GSM) more than tripled between Q3 2020 and Q4 2021, and has remained relatively stable since. David Rosen’s Rubric Capital Management owns the largest GSM stake among the funds tracked by Insider Monkey’s database, holding nearly 10.5 million shares at the end of September.

Ferroglobe PLC (NASDAQ:GSM) shares are down by 37% this year and feature solid daily trading activity of about 2.1 million shares per day, which makes them suitable for day traders. The stock’s December 16 call options also have quite a bit of implied volatility, which suggests at least some investors are expecting noteworthy price action on GSM shares in the coming days.

Strong demand for silicon prompted Ferroglobe PLC (NASDAQ:GSM) to restart its 55,000-ton silicon plant in South Africa, and has helped offset some of the weakness in the aluminum side of its business. The company’s Q3 revenue came in at $593 million, while it earned $0.52 per share. Both of those figures were well off the average estimates of two analysts who cover the stock.