Critical Metals (NASDAQ:CRML) Stock Price Down 6.1% - Here's What Happened

Key Points

• The stock price of Critical Metals Corp. (NASDAQ:CRML) dropped by 6.1%, closing at $19.58 after trading as low as $18.32.
• Research analysts have downgraded the stock, with Wall Street Zen moving it from a "hold" to a "sell" rating, contributing to an overall average rating of "sell."
• Institutional investors significantly increased their holdings, with Rhumbline Advisers raising its position by 582.5% in the first quarter, reflecting growing institutional interest.

Shares of Critical Metals Corp. (NASDAQ:CRML - Get Free Report) fell 6.1% during trading on Monday . The stock traded as low as $18.32 and last traded at $19.58. 25,633,591 shares changed hands during trading, an increase of 304% from the average session volume of 6,340,587 shares. The stock had previously closed at $20.86.

Analyst Ratings Changes

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

Critical Metals Price Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. The business's 50 day moving average is $8.91 and its 200 day moving average is $4.73.

Hedge Funds Weigh In On Critical Metals

Institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers lifted its position in 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 during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Critical Metals in the first quarter valued at $58,000. Alps Advisors Inc. lifted its position in 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 acquiring an additional 21,451 shares during the last quarter. Next Capital Management LLC purchased a new stake in Critical Metals in the first quarter valued at $28,000. Finally, XTX Topco Ltd purchased a new stake in Critical Metals in the first quarter valued at $96,000. Institutional investors and hedge funds 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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