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

Key Points

• Critical Metals Corp. (NASDAQ:CRML) shares experienced a significant drop, opening at $17.82 after a previous close of $19.58, and trading down to $15.99 with high volume.
• Analysts have largely issued sell ratings for CRML, with Weiss Ratings and Wall Street Zen both downgrading their recommendations recently.
• Institutional investors have increased their stakes in Critical Metals, with 86.44% of the stock currently owned by these investors, indicating confidence despite the stock's downturn.

Critical Metals Corp. (NASDAQ:CRML - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $19.58, but opened at $17.82. Critical Metals shares last traded at $15.99, with a volume of 9,952,319 shares trading hands.

Wall Street Analyst Weigh In

CRML has been the topic of a number of analyst reports. Weiss Ratings restated a "sell (e+)" rating on shares of Critical Metals in a research note on Wednesday, October 8th. Wall Street Zen cut Critical Metals from a "hold" rating to a "sell" rating in a research note on Saturday, October 11th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of "Sell".

Critical Metals Stock Performance

The stock has a fifty day simple moving average of $8.91 and a two-hundred day simple moving average of $4.73. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13.

Institutional Investors Weigh In On Critical Metals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Linden Advisors LP acquired a new position in shares of Critical Metals during the 1st quarter worth approximately $799,000. Geode Capital Management LLC raised its holdings in 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. FNY Investment Advisers LLC acquired a new position in Critical Metals in the 2nd quarter valued at $1,059,000. Shay Capital LLC purchased a new stake in shares of Critical Metals during the 2nd quarter valued at $984,000. Finally, PEAK6 LLC purchased a new stake in shares of Critical Metals during the 1st quarter valued at $249,000. 86.44% of the stock is currently owned by institutional investors and hedge funds.

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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