USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report)'s stock price was up 6.2% during trading on Friday . The stock traded as high as $16.27 and last traded at $16.22. Approximately 3,379,024 shares changed hands during trading, an increase of 41% from the average daily volume of 2,399,969 shares. The stock had previously closed at $15.27.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on USAR shares. Cantor Fitzgerald assumed coverage on shares of USA Rare Earth in a report on Friday, August 1st. They issued an "overweight" rating and a $16.00 price objective on the stock. Roth Capital reissued a "buy" rating on shares of USA Rare Earth in a research report on Friday, June 13th. Wall Street Zen cut shares of USA Rare Earth from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Finally, Canaccord Genuity Group started coverage on shares of USA Rare Earth in a report on Friday, June 13th. They issued a "buy" rating and a $17.00 price target on the stock. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $16.00.
Get Our Latest Analysis on USA Rare Earth
USA Rare Earth Price Performance
The business has a 50-day simple moving average of $13.14.
USA Rare Earth (NASDAQ:USAR - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.05.
Insider Activity 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 on Wednesday, August 13th. The shares were sold at an average price of $15.75, for a total value of $32,946,621.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 46.60% of the company's stock.
Institutional Trading of USA Rare Earth
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC boosted its stake in shares of USA Rare Earth by 158.2% in the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company's stock valued at $25,000 after purchasing an additional 1,424 shares during the last quarter. SBI Securities Co. Ltd. increased its stake 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 buying an additional 2,612 shares during the period. Titleist Asset Management LLC bought a new position in shares of USA Rare Earth during the 1st quarter worth approximately $145,000. LMR Partners LLP bought a new position in shares of USA Rare Earth during the 2nd quarter worth approximately $145,000. Finally, Diametric Capital LP purchased a new stake in shares of USA Rare Earth during the 2nd quarter valued at $147,000.
About USA Rare Earth
(
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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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