Critical Metals (NASDAQ:CRML) Shares Gap Up - Here's What Happened

Key Points

• Critical Metals Corp. shares gapped up from $10.02 to $12.19 before last trading at $11.94 with a volume of over 12 million shares.
• Despite the recent surge, analysts maintain a consensus rating of "Sell", although Wall Street Zen has upgraded it from "sell" to "hold".
• Institutional investors own 86.44% of Critical Metals, with notable increases in holdings from firms like Tower Research Capital and MIRAE ASSET GLOBAL ETFS HOLDINGS.

Critical Metals Corp. (NASDAQ:CRML - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $10.02, but opened at $12.19. Critical Metals shares last traded at $11.94, with a volume of 12,491,727 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a "sell (e+)" rating on shares of Critical Metals in a research note on Saturday, September 27th. Wall Street Zen raised Critical Metals from a "sell" rating to a "hold" rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of "Sell".

Critical Metals Stock Up 14.4%

The company has a 50 day moving average of $6.10 and a two-hundred day moving average of $3.56.

Institutional Investors Weigh In On Critical Metals

Several hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its holdings in Critical Metals by 121.8% in 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 in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in Critical Metals in the second quarter worth $33,000. B. Riley Wealth Advisors Inc. bought a new stake in Critical Metals in the second quarter worth $37,000. Pallas Capital Advisors LLC bought a new stake in Critical Metals in the second quarter worth $45,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Critical Metals by 288.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,592 shares of the company's stock worth $63,000 after acquiring an additional 13,061 shares in the last quarter. 86.44% of the stock is owned by institutional investors.

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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