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

Key Points

• Critical Metals Corp. shares saw a significant drop, opening at $26.54 down from a previous close of $29.97 and last trading at $24.64.
• Recent research reports indicated a cautious outlook, with Weiss Ratings reissuing a "sell" rating and Wall Street Zen downgrading the stock from "hold" to "sell."
• Institutional investors hold a substantial majority of the stock, owning 86.44% after a series of acquisitions during the second quarter.

Critical Metals Corp. (NASDAQ:CRML - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $29.97, but opened at $26.54. Critical Metals shares last traded at $24.64, with a volume of 15,225,929 shares changing hands.

Wall Street Analyst Weigh In

CRML has been the topic of several research reports. Weiss Ratings reissued a "sell (e+)" rating on shares of Critical Metals in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Critical Metals from a "hold" rating to a "sell" rating in a research report on Saturday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of "Sell".

Critical Metals Trading Down 23.8%

The company's fifty day moving average price is $7.62 and its two-hundred day moving average price is $4.17. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16.

Institutional Trading of Critical Metals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Next Capital Management LLC acquired a new stake in shares of Critical Metals in the first quarter valued at about $28,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Critical Metals during the second quarter worth about $33,000. B. Riley Wealth Advisors Inc. acquired a new position in Critical Metals during the second quarter worth about $37,000. Pallas Capital Advisors LLC acquired a new position in Critical Metals during the second quarter worth about $45,000. Finally, Tower Research Capital LLC TRC raised its position in Critical Metals by 121.8% during the second quarter. Tower Research Capital LLC TRC now owns 13,258 shares of the company's stock worth $47,000 after acquiring an additional 7,280 shares during the last quarter. Institutional investors and hedge funds own 86.44% of the company's stock.

About Critical Metals

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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