Critical Metals (NASDAQ:CRML) Trading Up 6.6% - Should You Buy?

Key Points

• Critical Metals shares rose 6.6% to $8.233 during Thursday trading, although volume was about 75% below the stock’s average daily level.
• Analyst sentiment is mixed: MarketBeat reports an average rating of “Moderate Buy” with an $18.00 price target, while recent actions included downgrades to “sell” and “hold.”
• Institutional investors own 86.44% of the company, with several major firms increasing their stakes. Critical Metals is developing the Wolfsberg Lithium Project in Austria to produce battery-grade lithium hydroxide for European markets.

Shares of Critical Metals Corp. (NASDAQ:CRML - Get Free Report) were up 6.6% during trading on Thursday . The stock traded as high as $8.14 and last traded at $8.2330. Approximately 3,006,937 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 11,987,544 shares. The stock had previously closed at $7.72.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wall Street Zen raised shares of Critical Metals from a "strong sell" rating to a "sell" rating in a research note on Saturday, September 12th. Weiss Ratings cut Critical Metals from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, July 21st. Freedom Capital lowered Critical Metals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. Finally, Cantor Fitzgerald initiated 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 on the stock. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $18.00.

Critical Metals Stock Performance

The firm has a 50 day moving average price of $6.77 and a 200-day moving average price of $8.82.

Institutional Investors Weigh In On Critical Metals

A number of institutional investors and hedge funds have recently modified their holdings of CRML. PNC Financial Services Group Inc. boosted its stake in Critical Metals by 100.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 274,348 shares of the company's stock valued at $1,904,000 after acquiring an additional 137,174 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Critical Metals by 327.5% during the first quarter. Bank of America Corp DE now owns 229,907 shares of the company's stock worth $1,825,000 after purchasing an additional 176,123 shares during the period. Empery Asset Management LP bought a new stake in Critical Metals in the fourth quarter valued at about $3,411,000. Moors & Cabot Inc. bought a new stake in Critical Metals in the fourth quarter valued at about $108,000. Finally, Royal Bank of Canada lifted its stake in Critical Metals by 121.4% in the first quarter. Royal Bank of Canada now owns 10,947 shares of the company's stock valued at $87,000 after buying an additional 6,002 shares during the period. 86.44% of the stock is owned by 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.

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.