USA Rare Earth (NASDAQ:USAR) Cut to "Sell" at Wall Street Zen

Key Points

• USA Rare Earth (NASDAQ:USAR) has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen in a recent research report.
• The company's stock price decreased by 3.3% recently, with a trading range between a 52-week low of $5.56 and a high of $20.00.
• A significant insider transaction occurred as Director Michael Blitzer sold over 2 million shares of the company for approximately $32.9 million.

USA Rare Earth (NASDAQ:USAR - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

A number of other brokerages also recently issued reports on USAR. Cantor Fitzgerald began coverage on USA Rare Earth in a research note on Friday, August 1st. They issued an "overweight" rating and a $16.00 price objective for the company. Canaccord Genuity Group assumed coverage on USA Rare Earth in a research report on Friday, June 13th. They set a "buy" rating and a $17.00 price target on the stock. Finally, Roth Capital reissued a "buy" rating on shares of USA Rare Earth in a report on Friday, June 13th.

USA Rare Earth Stock Down 3.3%

NASDAQ USAR opened at $17.19 on Friday. USA Rare Earth has a 52 week low of $5.56 and a 52 week high of $20.00. The firm's 50 day moving average price is $12.99.

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

Insiders Place Their Bets

In other USA Rare Earth news, Director Michael Blitzer sold 2,091,849 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $15.75, for a total value of $32,946,621.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 46.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On USA Rare Earth

A number of institutional investors have recently added to or reduced their stakes in the business. Newtyn Management LLC bought a new position in USA Rare Earth in the 1st quarter worth about $4,114,000. Geode Capital Management LLC increased its position in shares of USA Rare Earth by 2,437.5% during the 2nd quarter. Geode Capital Management LLC now owns 653,290 shares of the company's stock valued at $7,160,000 after purchasing an additional 627,545 shares during the last quarter. Bank of America Corp DE increased its position in shares of USA Rare Earth by 465.7% during the 2nd quarter. Bank of America Corp DE now owns 242,726 shares of the company's stock valued at $2,659,000 after purchasing an additional 199,819 shares during the last quarter. Pier 88 Investment Partners LLC bought a new position in shares of USA Rare Earth during the 2nd quarter valued at about $588,000. Finally, Lighthouse Investment Partners LLC bought a new position in shares of USA Rare Earth during the 2nd quarter valued at about $329,000.

USA Rare Earth Company 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.

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