USA Rare Earth (NASDAQ:USAR) Shares Gap Up - Still a Buy?

USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $9.79, but opened at $11.64. USA Rare Earth shares last traded at $11.14, with a volume of 3,675,749 shares.

Analysts Set New Price Targets

Several equities research analysts have weighed in on USAR shares. Roth Capital restated a "buy" rating on shares of USA Rare Earth in a research note on Friday, June 13th. Wall Street Zen upgraded USA Rare Earth to a "sell" rating in a research note on Saturday, June 14th. Finally, Canaccord Genuity Group initiated coverage on shares of USA Rare Earth in a report on Friday, June 13th. They set a "buy" rating and a $17.00 price target for the company.

USA Rare Earth Trading Down 2.6%

The firm has a fifty day simple moving average of $10.64.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in USA Rare Earth stock. Newtyn Management LLC acquired a new stake in USA Rare Earth Inc. (NASDAQ:USAR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 692,650 shares of the company's stock, valued at approximately $4,114,000. USA Rare Earth accounts for 0.7% of Newtyn Management LLC's investment portfolio, making the stock its 24th largest position. Newtyn Management LLC owned about 0.85% of USA Rare Earth at the end of the most recent reporting period.

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.