Titleist Asset Management LLC Takes $145,000 Position in USA Rare Earth Inc. $USAR

Key Points

• Titleist Asset Management LLC has acquired a new position in USA Rare Earth Inc., purchasing 24,450 shares valued at approximately $145,000.
• Insider trading activity includes the sale of over 2 million shares by Director Michael Blitzer for a total of $32.9 million, with corporate insiders owning 46.60% of the stock.
• Analysts have an average buy rating on the stock with a target price of $16.00, although Wall Street Zen recently downgraded it from "hold" to "sell."

Titleist Asset Management LLC bought a new stake in USA Rare Earth Inc. (NASDAQ:USAR - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 24,450 shares of the company's stock, valued at approximately $145,000.

Wall Street Analyst Weigh In

USAR has been the topic of several research analyst reports. Wall Street Zen lowered shares of USA Rare Earth from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Cantor Fitzgerald started coverage on shares of USA Rare Earth in a research report on Friday, August 1st. They set an "overweight" rating and a $16.00 target price on the stock. Roth Capital reiterated a "buy" rating on shares of USA Rare Earth in a research report on Friday, June 13th. Finally, Canaccord Genuity Group started coverage on shares of USA Rare Earth in a research report on Friday, June 13th. They set a "buy" rating and a $17.00 target price on the stock. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, USA Rare Earth presently has an average rating of "Buy" and an average target price of $16.00.

USA Rare Earth Stock Up 0.1%

USAR stock traded up $0.02 during trading on Thursday, hitting $13.78. 1,276,531 shares of the stock traded hands, compared to its average volume of 2,514,034. USA Rare Earth Inc. has a one year low of $5.56 and a one year high of $20.00. The stock has a 50 day moving average of $13.57.

USA Rare Earth (NASDAQ:USAR - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.05.

Insider Buying and Selling at USA Rare Earth

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

USA Rare Earth 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.