USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $37.54, but opened at $35.66. USA Rare Earth shares last traded at $32.47, with a volume of 9,714,128 shares changing hands.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group increased their target price on USA Rare Earth from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday, September 30th. Weiss Ratings restated a "sell (d-)" rating on shares of USA Rare Earth in a research report on Wednesday, October 8th. Roth Capital set a $40.00 price objective on shares of USA Rare Earth in a research note on Friday. Cantor Fitzgerald started coverage on shares of USA Rare Earth in a report on Friday, August 1st. They issued an "overweight" rating and a $16.00 target price for the company. Finally, Wall Street Zen cut USA Rare Earth from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $26.00.
Get Our Latest Stock Report on USA Rare Earth
USA Rare Earth Stock Down 10.9%
The stock's fifty day simple moving average is $18.23.
USA Rare Earth (NASDAQ:USAR - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.08) EPS for the quarter, beating analysts' consensus estimates of ($0.13) by $0.05.
Insider Buying and Selling at USA Rare Earth
In related 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 transaction of $32,946,621.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 46.60% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its position in 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 purchasing an additional 1,424 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in USA Rare Earth by 10,448.0% during the second 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 valued at $38,000. Titleist Asset Management LLC lifted its holdings in shares of USA Rare Earth by 20.2% during the 2nd quarter. Titleist Asset Management LLC now owns 29,380 shares of the company's stock valued at $322,000 after acquiring an additional 4,930 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in shares of USA Rare Earth during the 2nd quarter valued at $145,000.
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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