USA Rare Earth (NASDAQ:USAR) Stock Price Down 5% - Here's What Happened

USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report) traded down 5% during trading on Friday . The stock traded as low as $14.58 and last traded at $14.67. 710,799 shares were traded during trading, a decline of 55% from the average session volume of 1,568,032 shares. The stock had previously closed at $15.45.

Analysts Set New Price Targets

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

USA Rare Earth Stock Down 6.0%

The company's 50-day simple moving average is $11.04.

USA Rare Earth (NASDAQ:USAR - Get Free Report) last issued 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 shares of USA Rare Earth Inc. (NASDAQ:USAR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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 holdings, making the stock its 24th biggest holding. Newtyn Management LLC owned about 0.85% of USA Rare Earth as of its most recent filing with the Securities and Exchange Commission (SEC).

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.