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

Key Points

• USA Rare Earth (NASDAQ:USAR) experienced a trading volume of 1,508,008 shares, a 12% decrease from the previous session's volume.
• Wall Street analysts have given mixed reviews, with Cantor Fitzgerald issuing an "overweight" rating and a $16.00 price target, while Wall Street Zen rated it a "sell."
• The company, which specializes in rare earth magnets, is developing a domestic supply chain and reported an earnings loss of ($0.19) per share for the last quarter.

USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report) shares saw an uptick in trading volume on Friday . 1,508,008 shares were traded during trading, a decline of 12% from the previous session's volume of 1,721,732 shares.The stock last traded at $12.38 and had previously closed at $12.71.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on USAR. Wall Street Zen raised USA Rare Earth to a "sell" rating in a report on Saturday, June 14th. Cantor Fitzgerald assumed coverage on USA Rare Earth in a report on Friday. They issued an "overweight" rating and a $16.00 price objective on the stock. Canaccord Genuity Group assumed coverage on USA Rare Earth in a report on Friday, June 13th. They issued a "buy" rating and a $17.00 price objective on the stock. Finally, Roth Capital reaffirmed a "buy" rating on shares of USA Rare Earth in a report on Friday, June 13th.

USA Rare Earth Price Performance

The company's 50 day simple moving average is $11.59.

USA Rare Earth (NASDAQ:USAR - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.19) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On USA Rare Earth

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Titleist Asset Management LLC purchased a new stake in USA Rare Earth during the 1st quarter valued at about $145,000. International Assets Investment Management LLC purchased a new stake in USA Rare Earth during the 2nd quarter valued at about $250,000. Finally, Newtyn Management LLC purchased a new stake in USA Rare Earth during the 1st quarter valued at about $4,114,000.

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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