USA Rare Earth (NASDAQ:USAR) Stock Price Down 15.4% - What's Next?

Key Points

• USA Rare Earth Inc. experienced a significant drop in stock price, down 15.4%, closing at $26.73 after trading as low as $26.34.
• Equities research analysts have varying opinions on the stock, with Weiss Ratings issuing a "sell" rating, while Roth Capital set a price target of $40.00.
• Insider activity included the sale of over 2 million shares by Director Michael Blitzer, indicating significant internal movement within the company.

USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report)'s share price traded down 15.4% during trading on Tuesday . The stock traded as low as $26.34 and last traded at $26.73. 19,025,469 shares traded hands during mid-day trading, an increase of 294% from the average session volume of 4,830,934 shares. The stock had previously closed at $31.59.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on USAR shares. Weiss Ratings reissued a "sell (d-)" rating on shares of USA Rare Earth in a report on Wednesday, October 8th. Roth Capital set a $40.00 price objective on USA Rare Earth in a report on Friday, October 10th. 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. Wall Street Zen lowered USA Rare Earth from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Finally, Cantor Fitzgerald started coverage on USA Rare Earth in a research report on Friday, August 1st. They set an "overweight" rating and a $16.00 price objective for the company. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, USA Rare Earth has a consensus rating of "Moderate Buy" and an average price target of $26.00.

USA Rare Earth Stock Performance

The stock's 50-day simple moving average is $19.46.

USA Rare Earth (NASDAQ:USAR - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.05.

Insider Activity at USA Rare Earth

In other news, Director Michael Blitzer sold 2,091,849 shares of the firm'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 filing with the Securities & Exchange Commission, which is available at the SEC website. 46.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On USA Rare Earth

A number of large investors have recently bought and sold shares of USAR. Altfest L J & Co. Inc. bought a new stake in USA Rare Earth in the third quarter valued at $13,554,000. Newtyn Management LLC acquired a new stake in shares of USA Rare Earth in the 1st quarter valued at about $4,114,000. Geode Capital Management LLC increased its position in USA Rare Earth by 2,437.5% in the 2nd quarter. Geode Capital Management LLC now owns 653,290 shares of the company's stock valued at $7,160,000 after buying an additional 627,545 shares in the last quarter. Bank of America Corp DE raised its stake in USA Rare Earth by 465.7% during the 2nd quarter. Bank of America Corp DE now owns 242,726 shares of the company's stock worth $2,659,000 after buying an additional 199,819 shares during the period. Finally, Calamos Advisors LLC acquired a new position in USA Rare Earth during the 3rd quarter worth approximately $3,283,000.

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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