53,660 Shares in USA Rare Earth Inc. $USAR Bought by Pier 88 Investment Partners LLC

Key Points

• Pier 88 Investment Partners LLC bought a new stake of 53,660 shares of USA Rare Earth (NASDAQ:USAR) in Q2, valued at about $588,000 and representing roughly 0.06% of the company.
• Director Michael Blitzer sold 2,091,849 shares on August 13 at an average $15.75 for about $32.95 million, and company insiders now own 46.60% of the stock.
• USAR opened at $17.36 (trading up 9.7%), with a 12‑month range of $5.56–$43.98 and a market cap near $1.98 billion; analysts have a consensus Moderate Buy rating with a $26.33 price target.

Pier 88 Investment Partners LLC purchased a new stake in USA Rare Earth Inc. (NASDAQ:USAR - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 53,660 shares of the company's stock, valued at approximately $588,000. Pier 88 Investment Partners LLC owned about 0.06% of USA Rare Earth at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. MMCAP International Inc. SPC purchased a new position in shares of USA Rare Earth during the second quarter worth about $261,000. International Assets Investment Management LLC purchased a new stake in shares of USA Rare Earth in the 2nd quarter valued at about $250,000. Newtyn Management LLC acquired a new stake in shares of USA Rare Earth in the 1st quarter valued at about $4,114,000. Finally, Titleist Asset Management LLC purchased a new position in USA Rare Earth during the 1st quarter worth approximately $145,000.

USA Rare Earth Trading Up 9.7%

NASDAQ:USAR opened at $17.36 on Friday. USA Rare Earth Inc. has a 12-month low of $5.56 and a 12-month high of $43.98. The stock's 50 day simple moving average is $20.63 and its 200-day simple moving average is $15.14. The firm has a market cap of $1.98 billion, a P/E ratio of -64.30 and a beta of 0.77.

USA Rare Earth (NASDAQ:USAR - Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.19).

Analyst Upgrades and Downgrades

Several research firms have commented on USAR. Cantor Fitzgerald assumed coverage on USA Rare Earth in a research report on Friday, August 1st. They set an "overweight" rating and a $16.00 price target on the stock. Canaccord Genuity Group raised their target price on shares of USA Rare Earth from $22.00 to $23.00 and gave the stock a "buy" rating in a research report on Friday. Weiss Ratings reiterated a "sell (d-)" rating on shares of USA Rare Earth in a research report on Wednesday, October 8th. Wall Street Zen cut shares of USA Rare Earth from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, William Blair began coverage on shares of USA Rare Earth in a research report on Monday, October 20th. They set an "outperform" rating on the stock. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, USA Rare Earth presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.33.

Insider Activity

In other news, Director Michael Blitzer sold 2,091,849 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $15.75, for a total transaction of $32,946,621.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 46.60% of the stock is currently owned by company insiders.

USA Rare Earth Company Profile

USA Rare Earth, Inc is domestic supplier of rare earth magnets and heavy rare earth elements. It is developing a vertically integrated, domestic supply chain for rare earth element magnet production, with a facility in Stillwater, Oklahoma, and mining rights to the Round Top heavy rare earth and critical minerals deposit in West Texas.

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