223,354 Shares in USA Rare Earth Inc. $USAR Purchased by Overbrook Management Corp

Key Points

• Overbrook Management Corp acquired 223,354 USA Rare Earth shares worth approximately $3.15 million, giving it about a 0.09% stake. Several other institutional investors also increased their holdings.
• USAR shares fell 4.5% to $12.63, trading well below their 50-day and 200-day moving averages and near the stock’s $11.45 12-month low.
• The company reported a quarterly loss of $0.15 per share, missing estimates by $0.08, although analysts maintain a “Moderate Buy” consensus with a $33.71 average price target.

Overbrook Management Corp purchased a new position in shares of USA Rare Earth Inc. (NASDAQ:USAR - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 223,354 shares of the company's stock, valued at approximately $3,145,000. Overbrook Management Corp owned about 0.09% of USA Rare Earth as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Carlson Financial Inc. grew its position in USA Rare Earth by 5.7% during the second quarter. Carlson Financial Inc. now owns 11,780 shares of the company's stock valued at $254,000 after acquiring an additional 635 shares during the period. Sterling Capital Management LLC lifted its stake in shares of USA Rare Earth by 29.1% in the 1st quarter. Sterling Capital Management LLC now owns 3,676 shares of the company's stock valued at $56,000 after purchasing an additional 829 shares in the last quarter. First PREMIER Bank grew its holdings in shares of USA Rare Earth by 100.0% during the 2nd quarter. First PREMIER Bank now owns 2,000 shares of the company's stock worth $43,000 after purchasing an additional 1,000 shares during the period. State of Wyoming increased its position in USA Rare Earth by 100.4% during the 1st quarter. State of Wyoming now owns 2,509 shares of the company's stock worth $38,000 after purchasing an additional 1,257 shares in the last quarter. Finally, Ameritas Advisory Services LLC raised its holdings in USA Rare Earth by 276.3% in the second quarter. Ameritas Advisory Services LLC now owns 1,987 shares of the company's stock valued at $43,000 after buying an additional 1,459 shares during the period.

USA Rare Earth Trading Down 4.5%

NASDAQ USAR traded down $0.60 on Thursday, hitting $12.63. 19,853,418 shares of the stock traded hands, compared to its average volume of 16,046,637. The stock has a 50-day moving average of $16.76 and a 200 day moving average of $19.34. USA Rare Earth Inc. has a twelve month low of $11.45 and a twelve month high of $43.98. The company has a market capitalization of $3.09 billion, a P/E ratio of -5.20 and a beta of 2.66.

USA Rare Earth (NASDAQ:USAR - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.08). The firm had revenue of $5.82 million during the quarter. As a group, equities research analysts expect that USA Rare Earth Inc. will post -0.62 earnings per share for the current year.

Wall Street Analyst Weigh In

USAR has been the topic of a number of research reports. Cantor Fitzgerald reissued an "overweight" rating on shares of USA Rare Earth in a research note on Tuesday, August 11th. Weiss Ratings cut shares of USA Rare Earth from a "sell (d)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th. Roth Capital decreased their target price on shares of USA Rare Earth from $40.00 to $30.00 and set a "buy" rating for the company in a research note on Tuesday, July 21st. Needham & Company LLC lowered their price target on shares of USA Rare Earth from $39.00 to $33.00 and set a "buy" rating for the company in a report on Wednesday, July 22nd. Finally, Jefferies Financial Group began coverage on shares of USA Rare Earth in a report on Wednesday, September 2nd. They issued a "buy" rating and a $21.00 price objective on the stock. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $33.71.

USA Rare Earth Company Profile

USA Rare Earth, Inc is a U.S.-based critical minerals company focused on developing a domestic, vertically integrated supply chain for rare earth elements and rare earth permanent magnets. The company's activities span the planned mining and processing of rare earth materials and the manufacture of neodymium-iron-boron (NdFeB) magnets, which are used in electric vehicles, renewable energy systems, electronics, aerospace and defense applications.

The company's principal resource project is the Round Top rare earth and critical minerals project in Hudspeth County, Texas.

Want to see what other hedge funds are holding USAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for USA Rare Earth Inc. (NASDAQ:USAR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.