USA Rare Earth (NASDAQ:USAR) Sees Strong Trading Volume - Here's What Happened

Key Points

• USA Rare Earth experienced a significant **98% increase** in trading volume, with nearly **3.9 million shares** traded on Friday, and its stock price rose to **$15.86** from a previous close of **$15.04**.
• Analysts have shown confidence in USA Rare Earth, with **Roth Capital** and **Canaccord Genuity** both giving the stock a **buy rating**, while **Wall Street Zen** upgraded its rating from **strong sell** to **hold**.
• Institutional investors are actively increasing their stakes in USA Rare Earth, with **Newtyn Management** investing approximately **$4.1 million** and **Geode Capital Management** increasing its holdings by **2,437.5%** during the second quarter.

Shares of USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report) saw unusually-high trading volume on Friday . Approximately 3,898,533 shares changed hands during trading, an increase of 98% from the previous session's volume of 1,970,355 shares.The stock last traded at $15.86 and had previously closed at $15.04.

Wall Street Analyst Weigh In

Several analysts recently weighed in on 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 objective for the company. Roth Capital restated a "buy" rating on shares of USA Rare Earth in a research report on Friday, June 13th. Cantor Fitzgerald assumed coverage on USA Rare Earth in a research report on Friday, August 1st. They set an "overweight" rating and a $16.00 price objective for the company. Finally, Wall Street Zen upgraded USA Rare Earth from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 2nd.

USA Rare Earth Price Performance

The firm has a 50-day simple moving average of $12.40.

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

Hedge Funds Weigh In On USA Rare Earth

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in USA Rare Earth by 2,437.5% in the 2nd quarter. Geode Capital Management LLC now owns 653,290 shares of the company's stock worth $7,160,000 after purchasing an additional 627,545 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in USA Rare Earth by 10,448.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company's stock worth $29,000 after purchasing an additional 2,612 shares in the last quarter. Pier 88 Investment Partners LLC acquired a new position in USA Rare Earth in the 2nd quarter worth about $588,000. MMCAP International Inc. SPC acquired a new position in USA Rare Earth in the 2nd quarter worth about $261,000. Finally, International Assets Investment Management LLC acquired a new position in USA Rare Earth in the 2nd quarter worth about $250,000.

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.