Titleist Asset Management LLC Purchases New Holdings 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 shares of USA Rare Earth Inc. (NASDAQ:USAR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 24,450 shares of the company's stock, valued at approximately $145,000.

Wall Street Analyst Weigh In

Several analysts have commented on USAR shares. Roth Capital reiterated a "buy" rating on shares of USA Rare Earth in a research note on Friday, June 13th. Canaccord Genuity Group started coverage on shares of USA Rare Earth in a research note on Friday, June 13th. They issued a "buy" rating and a $17.00 price target on the stock. Cantor Fitzgerald started coverage on shares of USA Rare Earth in a research note on Friday, August 1st. They issued an "overweight" rating and a $16.00 price target on the stock. Finally, 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. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $16.00.

Insider Buying and Selling

In related news, Director Michael Blitzer sold 2,091,849 shares of the company'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 filing with the SEC, which can be accessed through this hyperlink. Insiders own 46.60% of the company's stock.

USA Rare Earth Trading Down 3.2%

Shares of NASDAQ USAR traded down $0.50 during mid-day trading on Monday, hitting $14.92. 5,328,760 shares of the company's stock traded hands, compared to its average volume of 7,639,879. The business has a 50-day moving average of $13.52. USA Rare Earth Inc. has a 1 year low of $5.56 and a 1 year high of $20.00.

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 (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.05.

About USA Rare Earth

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.