USA Rare Earth (NASDAQ:USAR) Shares Down 1.7% - Here's Why

Key Points

• USA Rare Earth Inc. (NASDAQ:USAR) shares dropped by 1.7% on Thursday, with trading volumes increasing by 59% compared to average session activity.
• Analysts have mixed opinions on the stock, with ratings varying from a "sell" by Wall Street Zen to a "buy" and target prices reaching as high as $40.00.
• Recent insider activity saw Director Michael Blitzer sell 2,091,849 shares at an average price of $15.75, while institutional investors are increasing stakes in the company, with NewEdge Advisors raising theirs by 158.2%.

Shares of USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report) traded down 1.7% on Thursday . The company traded as low as $23.83 and last traded at $24.05. 7,839,329 shares traded hands during trading, an increase of 59% from the average session volume of 4,918,974 shares. The stock had previously closed at $24.46.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. William Blair assumed coverage on USA Rare Earth in a research note on Monday. They set an "outperform" rating on the stock. 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 target on the stock. Canaccord Genuity Group lifted their target price on USA Rare Earth from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Roth Capital set a $40.00 target price on USA Rare Earth in a report on Friday, October 10th. Finally, Wall Street Zen downgraded USA Rare Earth from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $26.00.

USA Rare Earth Price Performance

The stock's fifty day moving average is $19.76.

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, beating analysts' consensus estimates of ($0.13) by $0.05.

Insider Buying and Selling at USA Rare Earth

In other news, Director Michael Blitzer sold 2,091,849 shares of the company'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 transaction of $32,946,621.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 46.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. NewEdge Advisors LLC raised its stake in shares of USA Rare Earth by 158.2% during the 2nd 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. SBI Securities Co. Ltd. raised its stake in shares of USA Rare Earth by 10,448.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company's stock worth $29,000 after buying an additional 2,612 shares during the period. Osaic Holdings Inc. acquired a new position in shares of USA Rare Earth during the 2nd quarter worth approximately $38,000. KLP Kapitalforvaltning AS acquired a new position in USA Rare Earth in the 3rd quarter valued at $69,000. Finally, Titleist Asset Management LLC acquired a new position in USA Rare Earth in the 1st quarter valued at $145,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.