Critical Metals (NASDAQ:CRML) Shares Gap Up - Time to Buy?

Key Points

• Critical Metals shares gapped higher, opening at $6.87 after closing at $6.35, before trading around $6.52 on volume of approximately 2.43 million shares.
• Analyst sentiment is mixed, but MarketBeat reports a consensus “Moderate Buy” rating and an $18.00 price target; recent actions included a downgrade to “Hold” and a new “Speculative Buy” initiation.
• Institutional ownership stands at 86.44%, with several firms increasing their stakes. The company is advancing the Wolfsberg Lithium Project in Austria to produce battery-grade lithium hydroxide for European markets.

Critical Metals Corp. (NASDAQ:CRML - Get Free Report)'s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $6.35, but opened at $6.87. Critical Metals shares last traded at $6.5160, with a volume of 2,431,793 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRML. Freedom Capital downgraded Critical Metals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of Critical Metals from a "strong sell" rating to a "sell" rating in a report on Saturday. Cantor Fitzgerald started coverage on shares of Critical Metals in a research report on Tuesday, July 14th. They set a "speculative buy" rating and a $18.00 price target for the company. Finally, Weiss Ratings cut shares of Critical Metals from a "sell (d-)" rating to a "sell (e+)" rating in a 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 stock. Based on data from MarketBeat, Critical Metals currently has an average rating of "Moderate Buy" and a consensus price target of $18.00.

Critical Metals Trading Up 2.8%

The business has a 50-day moving average price of $6.81 and a 200-day moving average price of $8.93.

Institutional Investors Weigh In On Critical Metals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empery Asset Management LP purchased a new position in shares of Critical Metals in the 4th quarter valued at approximately $3,411,000. PNC Financial Services Group Inc. increased its stake in Critical Metals by 100.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 274,348 shares of the company's stock valued at $1,904,000 after purchasing an additional 137,174 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Critical Metals by 327.5% in the first quarter. Bank of America Corp DE now owns 229,907 shares of the company's stock worth $1,825,000 after buying an additional 176,123 shares during the last quarter. Corient Private Wealth LP lifted its stake in shares of Critical Metals by 153.9% during the second quarter. Corient Private Wealth LP now owns 136,618 shares of the company's stock worth $1,400,000 after buying an additional 82,815 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Critical Metals by 31.1% during the first quarter. Bank of New York Mellon Corp now owns 123,904 shares of the company's stock valued at $984,000 after buying an additional 29,427 shares during the last quarter. 86.44% of the stock is currently owned by hedge funds and other institutional investors.

About Critical Metals

Critical Metals Corp. is a mineral development company focused on advancing projects that supply critical raw materials for the electric vehicle, battery storage, renewable energy and technology industries. The company's principal asset is the Wolfsberg Lithium Project in Carinthia, Austria, which is intended to produce battery-grade lithium hydroxide for European markets.

The Wolfsberg project includes planned mining, processing and refining operations designed to support an integrated European lithium supply chain.

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