USA Rare Earth (NASDAQ:USAR) Shares Up 15% - Time to Buy?

Key Points

• USA Rare Earth Inc. shares surged 15%, reaching a high of $32.59 during trading, with volumes increasing by 627% over the average session.
• Amid mixed ratings from analysts, the stock has an average rating of "Moderate Buy" with a target price of $17.67, while some firms have downgraded it to a "sell."
• Insider sales and significant purchases by hedge funds indicate active trading and interest in the company, with corporate insiders holding 46.60% of the stock.

USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report)'s stock price shot up 15% during mid-day trading on Thursday . The company traded as high as $32.59 and last traded at $31.07. 25,993,863 shares were traded during trading, an increase of 627% from the average session volume of 3,577,513 shares. The stock had previously closed at $27.02.

Analyst Upgrades and Downgrades

USAR has been the subject of a number of research analyst reports. Wall Street Zen lowered USA Rare Earth from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Roth Capital reissued a "buy" rating on shares of USA Rare Earth in a report on Monday, September 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of USA Rare Earth in a report on Wednesday. Canaccord Genuity Group lifted their target price on USA Rare Earth from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Finally, Cantor Fitzgerald initiated coverage on USA Rare Earth in a report on Friday, August 1st. They issued an "overweight" rating and a $16.00 target price for the company. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, USA Rare Earth currently has an average rating of "Moderate Buy" and an average target price of $17.67.

USA Rare Earth Price Performance

The firm has a fifty day simple moving average of $16.90.

USA Rare Earth (NASDAQ:USAR - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.05.

Insider Transactions at USA Rare Earth

In other USA Rare Earth news, Director Michael Blitzer sold 2,091,849 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $15.75, for a total transaction of $32,946,621.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 46.60% of the company's stock.

Hedge Funds Weigh In On USA Rare Earth

Large investors have recently made changes to their positions in the business. NewEdge Advisors LLC lifted its position in shares of USA Rare Earth by 158.2% in the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company's stock valued at $25,000 after acquiring an additional 1,424 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of USA Rare Earth by 10,448.0% in the second quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company's stock valued at $29,000 after acquiring an additional 2,612 shares in the last quarter. Osaic Holdings Inc. purchased a new position in shares of USA Rare Earth in the second quarter valued at about $38,000. LMR Partners LLP purchased a new position in shares of USA Rare Earth in the second quarter valued at about $145,000. Finally, Titleist Asset Management LLC purchased a new stake in shares of USA Rare Earth in the first quarter worth 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.