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USA Rare Earth (NASDAQ:USAR) Shares Down 6.7% - What's Next?

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Key Points

  • USA Rare Earth Inc. (NASDAQ:USAR) experienced a 6.7% decline in share price during mid-day trading, falling to $13.85 after closing at $14.84.
  • The company's recent earnings report showed a loss of ($0.08) per share, which was better than the expected loss of ($0.13) per share.
  • Several research analysts have given mixed ratings on the stock, with Wall Street Zen downgrading it to "sell," while others maintained "buy" ratings, leading to a consensus rating of "buy" and an average target price of $16.00.
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USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report) dropped 6.7% during mid-day trading on Wednesday . The stock traded as low as $13.73 and last traded at $13.85. Approximately 1,722,367 shares traded hands during trading, a decline of 27% from the average daily volume of 2,347,657 shares. The stock had previously closed at $14.84.

Analyst Upgrades and Downgrades

USAR has been the topic of several research analyst reports. Wall Street Zen cut shares of USA Rare Earth from a "hold" rating to a "sell" rating in a research report on Saturday. Roth Capital reiterated a "buy" rating on shares of USA Rare Earth in a research report on Friday, June 13th. Canaccord Genuity Group initiated coverage on shares of USA Rare Earth in a research report on Friday, June 13th. They set a "buy" rating and a $17.00 price target on the stock. Finally, Cantor Fitzgerald initiated coverage on shares of USA Rare Earth in a research report on Friday, August 1st. They set an "overweight" rating and a $16.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $16.00.

View Our Latest Research Report on USA Rare Earth

USA Rare Earth Stock Performance

The stock has a fifty day moving average price of $13.09.

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

Insider Activity

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 shares were sold at an average price of $15.75, for a total value of $32,946,621.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 46.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Newtyn Management LLC bought a new position in shares of USA Rare Earth in the first quarter worth approximately $4,114,000. Geode Capital Management LLC lifted its stake in shares of USA Rare Earth by 2,437.5% in the second quarter. Geode Capital Management LLC now owns 653,290 shares of the company's stock worth $7,160,000 after buying an additional 627,545 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of USA Rare Earth by 465.7% in the second quarter. Bank of America Corp DE now owns 242,726 shares of the company's stock worth $2,659,000 after buying an additional 199,819 shares in the last quarter. Pier 88 Investment Partners LLC bought a new position in USA Rare Earth during the second quarter valued at approximately $588,000. Finally, Advisory Services Network LLC bought a new position in USA Rare Earth during the second quarter valued at approximately $562,000.

About USA Rare Earth

(Get Free Report)

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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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.

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