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

Shares of USA Rare Earth Inc (NASDAQ:USAR - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $12.80, but opened at $11.90. USA Rare Earth shares last traded at $11.95, with a volume of 936,938 shares traded.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen upgraded shares of USA Rare Earth to a "sell" rating in a research report on Saturday. Canaccord Genuity Group assumed coverage on shares of USA Rare Earth in a research report on Friday. They set a "buy" rating and a $17.00 price target on the stock. Finally, Roth Capital assumed coverage on shares of USA Rare Earth in a research report on Thursday, May 29th. They set a "buy" rating and a $15.00 price target on the stock.

USA Rare Earth Stock Performance

The company has a 50 day moving average of $10.64.

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

Hedge Funds Weigh In On USA Rare Earth

An institutional investor recently bought a new position in USA Rare Earth stock. Newtyn Management LLC bought a new position in USA Rare Earth Inc (NASDAQ:USAR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 692,650 shares of the company's stock, valued at approximately $4,114,000. USA Rare Earth makes up about 0.7% of Newtyn Management LLC's portfolio, making the stock its 24th largest holding. Newtyn Management LLC owned about 0.85% of USA Rare Earth as of its most recent SEC filing.

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.