Critical Metals (NASDAQ:CRML) Shares Down 7.9% - Here's Why

Key Points

• Shares down 7.9% — CRML fell to $15.81 intraday from a $17.17 close on Wednesday, with 15.2 million shares traded (about 46% below its average session volume).
• Recent broker action has pushed CRML to an average rating of "Sell", including a downgrade from Wall Street Zen and a reissued Sell (e+) from Weiss Ratings.
• Institutional investors own 86.44% of the stock and several hedge funds (Geode, Creative Planning, Millennium) have added positions, but the company shows weak liquidity with current and quick ratios of 0.13.

Critical Metals Corp. (NASDAQ:CRML - Get Free Report) fell 7.9% during trading on Wednesday . The stock traded as low as $16.23 and last traded at $15.8130. 15,213,407 shares were traded during mid-day trading, a decline of 46% from the average session volume of 28,095,682 shares. The stock had previously closed at $17.17.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CRML. Wall Street Zen lowered Critical Metals from a "hold" rating to a "sell" rating in a research note on Saturday, October 11th. Weiss Ratings reissued a "sell (e+)" rating on shares of Critical Metals in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of "Sell".

Critical Metals Price Performance

The firm's 50-day simple moving average is $9.80 and its 200 day simple moving average is $8.68. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16.

Hedge Funds Weigh In On Critical Metals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of Critical Metals by 272.6% in the 2nd quarter. Geode Capital Management LLC now owns 455,006 shares of the company's stock valued at $1,629,000 after acquiring an additional 332,878 shares during the last quarter. Creative Planning bought a new position in Critical Metals during the 3rd quarter worth approximately $1,952,000. FNY Investment Advisers LLC acquired a new position in Critical Metals during the second quarter valued at approximately $1,059,000. Shay Capital LLC bought a new stake in Critical Metals in the second quarter valued at approximately $984,000. Finally, Millennium Management LLC acquired a new stake in Critical Metals in the third quarter worth $1,470,000. Institutional investors own 86.44% of the company's stock.

Critical Metals Company Profile

Critical Metals Corp. engages in the mining, exploration, and development of lithium metals. It owns Wolfsberg Project and Tanbreez Project. The company was founded on October 24, 2022 and is headquartered in British Virgin Islands.

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