Critical Metals (NASDAQ:CRML) Trading Up 10.3% - Time to Buy?

Key Points

• Critical Metals shares rose 10.3% to $6.40 in Friday trading, although volume was about 80% below the stock’s average daily volume.
• Analyst sentiment is mixed, but MarketBeat reports a consensus rating of “Moderate Buy” and an average price target of $18.00—well above the current share price.
• Institutional ownership stands at 86.44%, with firms including Geode Capital Management and JPMorgan Chase increasing their stakes during the latest reporting periods.

Critical Metals Corp. (NASDAQ:CRML - Get Free Report)'s share price rose 10.3% during trading on Friday . The company traded as high as $6.59 and last traded at $6.40. Approximately 2,372,591 shares changed hands during trading, a decline of 80% from the average daily volume of 12,121,912 shares. The stock had previously closed at $5.80.

Analysts Set New Price Targets

Several brokerages have commented on CRML. Cantor Fitzgerald assumed coverage on Critical Metals in a research note on Tuesday, July 14th. They set a "speculative buy" rating and a $18.00 price target for the company. Freedom Capital lowered Critical Metals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings downgraded Critical Metals from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $18.00.

Critical Metals Stock Up 17.6%

The firm's 50-day simple moving average is $7.76 and its 200 day simple moving average is $9.39.

Institutional Investors Weigh In On Critical Metals

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new position in shares of Critical Metals in the 1st quarter worth approximately $69,000. Rhumbline Advisers increased its holdings in shares of Critical Metals by 582.5% in the 1st quarter. Rhumbline Advisers now owns 43,047 shares of the company's stock valued at $60,000 after purchasing an additional 36,740 shares during the period. Geode Capital Management LLC boosted its stake in shares of Critical Metals by 272.6% during the 2nd quarter. Geode Capital Management LLC now owns 455,006 shares of the company's stock valued at $1,629,000 after buying an additional 332,878 shares during the period. JPMorgan Chase & Co. grew its stake in Critical Metals by 142.6% in the second quarter. JPMorgan Chase & Co. now owns 33,039 shares of the company's stock valued at $118,000 after purchasing an additional 19,418 shares in the last quarter. Finally, Cerity Partners LLC purchased a new stake in shares of Critical Metals during the 2nd quarter worth about $226,000. 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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