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

USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $12.73, but opened at $11.78. USA Rare Earth shares last traded at $11.39, with a volume of 1,550,698 shares changing hands.

Analysts Set New Price Targets

USAR has been the topic of a number of research reports. Roth Capital reiterated a "buy" rating on shares of USA Rare Earth in a report on Friday, June 13th. Canaccord Genuity Group started coverage on shares of USA Rare Earth in a research report on Friday, June 13th. They issued a "buy" rating and a $17.00 price objective for the company. Finally, Wall Street Zen upgraded shares of USA Rare Earth to a "sell" rating in a research report on Saturday, June 14th.

USA Rare Earth Stock Down 12.3%

The business's 50-day moving average price is $10.93.

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

Institutional Investors Weigh In On USA Rare Earth

A hedge fund recently bought a new stake in USA Rare Earth stock. Titleist Asset Management LLC acquired a new position in shares of USA Rare Earth Inc. (NASDAQ:USAR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 24,450 shares of the company's stock, valued at approximately $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.

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