Tidal Investments LLC Sells 16,236 Shares of MP Materials Corp. (NYSE:MP)

Tidal Investments LLC lessened its position in shares of MP Materials Corp. (NYSE:MP - Free Report) by 22.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,590 shares of the company's stock after selling 16,236 shares during the period. Tidal Investments LLC's holdings in MP Materials were worth $883,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MP. Quadrant Capital Group LLC raised its stake in shares of MP Materials by 40.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock valued at $38,000 after purchasing an additional 701 shares during the period. SBI Securities Co. Ltd. bought a new position in MP Materials in the 4th quarter worth about $40,000. Geneos Wealth Management Inc. increased its stake in MP Materials by 205.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company's stock worth $43,000 after acquiring an additional 1,849 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of MP Materials by 204.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company's stock valued at $51,000 after purchasing an additional 2,200 shares during the last quarter. Finally, IMG Wealth Management Inc. bought a new position in shares of MP Materials during the 4th quarter valued at about $66,000. Hedge funds and other institutional investors own 52.55% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on MP shares. BMO Capital Markets increased their price objective on MP Materials from $22.00 to $29.00 and gave the company a "market perform" rating in a research report on Thursday, March 20th. DA Davidson increased their target price on MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. dropped their target price on MP Materials from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $23.61.

MP Materials Trading Up 1.4%

NYSE MP traded up $0.27 on Thursday, hitting $19.87. The company's stock had a trading volume of 4,266,032 shares, compared to its average volume of 3,772,006. MP Materials Corp. has a 52-week low of $10.02 and a 52-week high of $29.72. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The company's 50-day simple moving average is $23.50 and its 200 day simple moving average is $22.00. The firm has a market cap of $3.25 billion, a P/E ratio of -33.68 and a beta of 2.24.

MP Materials (NYSE:MP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The business had revenue of $60.81 million during the quarter, compared to analysts' expectations of $64.74 million. During the same quarter last year, the business posted ($0.04) EPS. The company's quarterly revenue was up 24.9% compared to the same quarter last year. Research analysts predict that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Ryan Corbett sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $27.00, for a total value of $405,000.00. Following the completion of the transaction, the chief financial officer now owns 214,812 shares in the company, valued at $5,799,924. This trade represents a 6.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James H. Litinsky sold 489,918 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $26.77, for a total value of $13,115,104.86. Following the completion of the transaction, the chief executive officer now owns 15,153,158 shares of the company's stock, valued at approximately $405,650,039.66. The trade was a 3.13% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 943,792 shares of company stock worth $25,286,567. 9.50% of the stock is currently owned by company insiders.

MP Materials Profile

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.