Shares of USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 10,071,274 shares traded hands during trading, an increase of 127% from the previous session's volume of 4,429,877 shares.The stock last traded at $30.40 and had previously closed at $33.68.
Analyst Ratings Changes
Several equities research analysts have weighed in on USAR shares. Weiss Ratings reissued a "sell (d-)" rating on shares of USA Rare Earth in a research note on Wednesday, October 8th. Cantor Fitzgerald started coverage on USA Rare Earth in a research note on Friday, August 1st. They set an "overweight" rating and a $16.00 price objective on the stock. Canaccord Genuity Group boosted their price objective on USA Rare Earth from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday, September 30th. Wall Street Zen cut USA Rare Earth from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, Roth Capital set a $40.00 price objective on USA Rare Earth in a research note on Friday, October 10th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $26.00.
Get Our Latest Analysis on USAR
USA Rare Earth Price Performance
The firm's 50-day moving average is $18.64.
USA Rare Earth (NASDAQ:USAR - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.05.
Insider Activity
In related news, Director Michael Blitzer sold 2,091,849 shares of the business's stock in a transaction that occurred on 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 46.60% of the company's stock.
Institutional Trading of USA Rare Earth
Large investors have recently modified their holdings of the company. Newtyn Management LLC purchased a new stake in shares of USA Rare Earth in the first quarter valued at approximately $4,114,000. Titleist Asset Management LLC purchased a new stake in shares of USA Rare Earth in the first quarter valued at approximately $145,000. LMR Partners LLP purchased a new stake in shares of USA Rare Earth in the second quarter valued at approximately $145,000. Osaic Holdings Inc. purchased a new stake in USA Rare Earth during the second quarter worth $38,000. Finally, NewEdge Advisors LLC lifted its holdings in USA Rare Earth by 158.2% during the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company's stock worth $25,000 after buying an additional 1,424 shares during the period.
USA Rare Earth Company Profile
(
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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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