USA Rare Earth (NASDAQ:USAR) Reaches New 52-Week High - Here's Why

Key Points

• USA Rare Earth Inc. (NASDAQ:USAR) reached a new **52-week high** stock price of **$43.98**, increasing from a previous close of **$32.61** and showing strong trading volume of **49,183,507 shares**.
• Analysts have mixed views on the stock, with a consensus rating of **"Moderate Buy"** and price targets ranging from **$16.00** to **$40.00** while one firm rated it as a "**sell**".
• Director Michael Blitzer sold **2,091,849 shares** at an average price of **$15.75**, amounting to over **$32 million**, highlighting significant insider activity within the company.

USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $43.98 and last traded at $38.68, with a volume of 49183507 shares traded. The stock had previously closed at $32.61.

Analyst Ratings Changes

Several brokerages have issued reports on USAR. Cantor Fitzgerald initiated coverage on shares of USA Rare Earth in a report on Friday, August 1st. They issued an "overweight" rating and a $16.00 target price for the company. Roth Capital set a $40.00 price target on shares of USA Rare Earth in a research report on Friday. Weiss Ratings reiterated a "sell (d-)" rating on shares of USA Rare Earth in a research note on Wednesday, October 8th. Wall Street Zen downgraded USA Rare Earth from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, Canaccord Genuity Group upped their price target on USA Rare Earth from $21.00 to $22.00 and gave the company a "buy" rating in a report on Tuesday, September 30th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, USA Rare Earth presently has an average rating of "Moderate Buy" and a consensus price target of $26.00.

USA Rare Earth Stock Performance

The business has a fifty day moving average of $17.76.

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

Insider Activity

In other USA Rare Earth news, Director Michael Blitzer sold 2,091,849 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $15.75, for a total transaction of $32,946,621.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 46.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On USA Rare Earth

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. purchased a new stake in shares of USA Rare Earth in the 2nd quarter worth $38,000. Advisory Services Network LLC bought a new stake in USA Rare Earth during the second quarter valued at about $562,000. LMR Partners LLP bought a new stake in USA Rare Earth during the second quarter valued at about $145,000. Bank of America Corp DE lifted 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 buying an additional 199,819 shares in the last quarter. Finally, Lighthouse Investment Partners LLC purchased a new position in shares of USA Rare Earth during the 2nd quarter valued at about $329,000.

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.

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