USA Rare Earth (NASDAQ:USAR) Stock Price Up 1.6% - Here's What Happened

Key Points

• USA Rare Earth Inc. shares rose 1.6% during trading on Monday, with a last traded price of $16.14, following a substantial dip in trading volume.
• Analysts have mixed opinions on the stock, with Roth Capital maintaining a "buy" rating while Wall Street Zen downgraded it from "hold" to "sell." The stock has an average rating of "buy" and a target price of $16.00.
• Recent insider activities include the sale of over 2 million shares by Director Michael Blitzer for approximately $32.9 million, while institutional investors have significantly increased their holdings in the company.

USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report)'s share price was up 1.6% during trading on Monday . The company traded as high as $16.56 and last traded at $16.14. Approximately 2,030,223 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 2,421,549 shares. The stock had previously closed at $15.89.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on USAR shares. Roth Capital reiterated a "buy" rating on shares of USA Rare Earth in a report on Friday, June 13th. Cantor Fitzgerald started 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. Wall Street Zen cut USA Rare Earth from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, Canaccord Genuity Group started coverage on USA Rare Earth in a report on Friday, June 13th. They issued a "buy" rating and a $17.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $16.00.

USA Rare Earth Price Performance

The stock has a fifty day moving average price of $13.42.

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

Insider Buying and Selling

In related news, Director Michael Blitzer sold 2,091,849 shares of the firm'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 SEC, which can be accessed through the SEC website. 46.60% of the stock is currently owned by company insiders.

Institutional Trading of USA Rare Earth

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lighthouse Investment Partners LLC acquired a new stake in USA Rare Earth during the second quarter worth about $329,000. Raymond James Financial Inc. acquired a new stake in USA Rare Earth in the second quarter valued at approximately $223,000. LMR Partners LLP acquired a new stake in USA Rare Earth in the second quarter valued at approximately $145,000. NewEdge Advisors LLC grew its holdings in 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 purchasing an additional 1,424 shares during the period. Finally, Diametric Capital LP acquired a new stake in USA Rare Earth in the second quarter valued at approximately $147,000.

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.