USA Rare Earth (NASDAQ:USAR) Trading Down 9.3% - What's Next?

Key Points

• USA Rare Earth Inc.'s stock price has declined by 9.3% during mid-day trading, reaching a low of $10.98 from a previous close of $12.10.
• Analysts have mixed ratings on the stock, with Roth Capital maintaining a "buy" rating, while Wall Street Zen downgraded it to a "sell" rating.
• The company is focusing on developing a domestic supply chain for rare earth elements, with operations in Oklahoma and mining rights in Texas.

Shares of USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report) traded down 9.3% during trading on Tuesday . The stock traded as low as $10.98 and last traded at $10.98. 2,348,183 shares changed hands during trading, an increase of 39% from the average session volume of 1,685,961 shares. The stock had previously closed at $12.10.

Wall Street Analysts Forecast Growth

USAR has been the subject of several recent analyst reports. Roth Capital reaffirmed a "buy" rating on shares of USA Rare Earth in a report on Friday, June 13th. Cantor Fitzgerald initiated coverage on USA Rare Earth in a research note on Friday. They issued an "overweight" rating and a $16.00 price objective for the company. Canaccord Genuity Group started coverage on USA Rare Earth in a research report on Friday, June 13th. They set a "buy" rating and a $17.00 target price for the company. Finally, Wall Street Zen raised USA Rare Earth from a "strong sell" rating to a "hold" rating in a report on Saturday.

USA Rare Earth Trading Up 9.7%

The stock has a 50 day simple moving average of $11.68.

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

Institutional Inflows and Outflows

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

About USA Rare Earth

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.