Critical Metals Target of Unusually High Options Trading (NASDAQ:CRML)

Key Points

• Unusually high options activity: Investors purchased 32,048 call options on Critical Metals, 42% above its typical volume of 22,560 contracts.
• Shares rose 18.5%: CRML gained $1.23 to reach $7.90 in midday trading, while trading volume remained near its average. The stock has ranged from $5.11 to $32.15 over the past 52 weeks.
• Analyst outlook is mixed but moderately positive: Ratings range from Strong Buy to Sell, producing a consensus “Moderate Buy” rating and an average price target of $18.00. Institutional investors own 86.44% of the company.

Critical Metals Corp. (NASDAQ:CRML - Get Free Report) was the recipient of some unusual options trading on Tuesday. Investors purchased 32,048 call options on the stock. This represents an increase of 42% compared to the typical volume of 22,560 call options.

Critical Metals Stock Up 18.5%

Shares of NASDAQ CRML traded up $1.23 during midday trading on Tuesday, reaching $7.90. 11,551,280 shares of the company's stock were exchanged, compared to its average volume of 12,195,560. Critical Metals has a 52-week low of $5.11 and a 52-week high of $32.15. The business's fifty day moving average price is $7.63 and its two-hundred day moving average price is $9.29.

Wall Street Analyst Weigh In

A number of brokerages have commented on CRML. Cantor Fitzgerald initiated coverage on Critical Metals in a research note on Tuesday, July 14th. They set a "speculative buy" rating and a $18.00 price objective on the stock. Freedom Capital downgraded Critical Metals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. Finally, Weiss Ratings lowered Critical Metals from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $18.00.

Hedge Funds Weigh In On Critical Metals

Large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Critical Metals by 14.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 14,630 shares of the company's stock valued at $116,000 after buying an additional 1,829 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Critical Metals by 95.9% during the third quarter. BNP Paribas Financial Markets now owns 6,401 shares of the company's stock valued at $40,000 after purchasing an additional 3,134 shares during the period. National Bank of Canada FI acquired a new position in Critical Metals during the 3rd quarter valued at about $25,000. Sunbelt Securities Inc. bought a new stake in Critical Metals during the fourth quarter worth approximately $28,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Critical Metals by 25.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,399 shares of the company's stock worth $142,000 after buying an additional 4,139 shares in the last quarter. Institutional investors own 86.44% of the company's stock.

Critical Metals Company Profile

Critical Metals Corp. engages in the mining, exploration, and development of lithium metals. It owns Wolfsberg Project and Tanbreez Project. The company was founded on October 24, 2022 and is headquartered in British Virgin Islands.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source