USA Rare Earth (NASDAQ:USAR) Trading 3.7% Higher - Here's What Happened

Key Points

• USA Rare Earth Inc. (NASDAQ: USAR) saw its stock price increase by 3.7% during Thursday's trading, reaching a high of $16.34.
• Recent analyst ratings indicate mixed sentiments, with Roth Capital maintaining a "buy" rating, while Wall Street Zen downgraded the stock from "hold" to "sell."
• The company's most recent earnings report showed a net loss of ($0.08) EPS, which was better than the consensus estimate of ($0.13) EPS.

USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report) shot up 3.7% during trading on Thursday . The stock traded as high as $16.34 and last traded at $16.27. 1,452,912 shares were traded during mid-day trading, a decline of 41% from the average session volume of 2,459,087 shares. The stock had previously closed at $15.69.

Analyst Ratings Changes

Several equities research analysts recently issued reports on USAR shares. Roth Capital restated a "buy" rating on shares of USA Rare Earth in a report on Friday, June 13th. Wall Street Zen downgraded USA Rare Earth from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Canaccord Genuity Group assumed coverage on USA Rare Earth in a report on Friday, June 13th. They issued a "buy" rating and a $17.00 price objective for the company. Finally, Cantor Fitzgerald assumed coverage on USA Rare Earth in a research report on Friday, August 1st. They issued an "overweight" rating and a $16.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, USA Rare Earth currently has an average rating of "Buy" and an average target price of $16.00.

USA Rare Earth Price Performance

The business's 50 day moving average is $13.36.

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

Insiders Place Their Bets

In other USA Rare Earth news, Director Michael Blitzer sold 2,091,849 shares of the firm's stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is available at this link. 46.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On USA Rare Earth

Institutional investors have recently added to or reduced their stakes in the company. Lighthouse Investment Partners LLC purchased a new position in USA Rare Earth during the 2nd quarter valued at approximately $329,000. Raymond James Financial Inc. bought a new stake in shares of USA Rare Earth in the 2nd quarter worth about $223,000. LMR Partners LLP purchased a new position in shares of USA Rare Earth during the 2nd quarter worth about $145,000. NewEdge Advisors LLC boosted its position in shares of USA Rare Earth by 158.2% during the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company's stock valued at $25,000 after buying an additional 1,424 shares during the period. Finally, Diametric Capital LP purchased a new stake in USA Rare Earth in the second quarter worth $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.

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