Critical Metals (NASDAQ:CRML) Shares Gap Up - Still a Buy?

Key Points

• Critical Metals Corp. (NASDAQ:CRML) shares experienced a significant increase, opening at $5.94 after a close of $5.71, and last trading at $6.24, marking a 9.9% rise.
• Several hedge funds have recently increased their investments in CRML, with Barclays PLC boosting its stake by 22.9% and Rhumbline Advisers dramatically increasing theirs by 582.5%.
• The company focuses on the mining and development of lithium metals, operating notable projects such as the Wolfsberg Project and Tanbreez Project.

Critical Metals Corp. (NASDAQ:CRML - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $5.71, but opened at $5.94. Critical Metals shares last traded at $6.24, with a volume of 750,148 shares trading hands.

Critical Metals Price Performance

The company's fifty day simple moving average is $4.94 and its 200 day simple moving average is $2.97.

Hedge Funds Weigh In On Critical Metals

Institutional investors and hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. increased its holdings in shares of Critical Metals by 139.8% in the first quarter. Alps Advisors Inc. now owns 36,799 shares of the company's stock valued at $51,000 after purchasing an additional 21,451 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Critical Metals in the first quarter valued at about $58,000. XTX Topco Ltd acquired a new position in shares of Critical Metals in the first quarter valued at about $96,000. Rhumbline Advisers grew its stake in shares of Critical Metals by 582.5% in the first quarter. Rhumbline Advisers now owns 43,047 shares of the company's stock valued at $60,000 after acquiring an additional 36,740 shares in the last quarter. Finally, PEAK6 LLC acquired a new position in shares of Critical Metals in the first quarter valued at about $249,000. 86.44% of the stock is currently owned by institutional investors and hedge funds.

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.