USA Rare Earth (NASDAQ:USAR) Trading 5% Higher - Time to Buy?

Key Points

• USA Rare Earth Inc. (NASDAQ:USAR) saw its share price increase by 5% on a recent trading day, reaching a high of $37.85 before closing at $32.61, with a trading volume surge of 1,150% compared to the average.
• While three analysts have rated the stock as a "Buy", Wall Street Zen and Weiss Ratings have issued sell ratings, indicating mixed sentiments about the company's future performance.
• Hedge funds have recently increased their positions in USA Rare Earth, with Geode Capital Management raising its holdings by 2,437.5% during the second quarter, indicating growing investor interest.

USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report)'s share price traded up 5% on Friday . The company traded as high as $37.85 and last traded at $32.61. 47,650,182 shares were traded during mid-day trading, an increase of 1,150% from the average session volume of 3,812,458 shares. The stock had previously closed at $31.07.

Analyst Ratings Changes

Several research firms recently commented on USAR. Wall Street Zen lowered USA Rare Earth from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of USA Rare Earth in a report on Wednesday. Roth Capital set a $40.00 target price on shares of USA Rare Earth in a report on Friday. Canaccord Genuity Group upped their price objective on USA Rare Earth from $21.00 to $22.00 and gave the company a "buy" rating in a research report on Tuesday, September 30th. Finally, Cantor Fitzgerald initiated coverage on USA Rare Earth in a research report on Friday, August 1st. They set an "overweight" rating and a $16.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $26.00.

USA Rare Earth Stock Performance

The stock has a 50 day moving average of $16.90.

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

Insider Buying and Selling at USA Rare Earth

In related news, Director Michael Blitzer sold 2,091,849 shares of the business's stock in a transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 46.60% of the stock is owned by insiders.

Hedge Funds Weigh In On USA Rare Earth

Hedge funds have recently modified their holdings of the stock. Newtyn Management LLC acquired a new stake in USA Rare Earth in the 1st quarter worth approximately $4,114,000. Geode Capital Management LLC grew its holdings in shares of USA Rare Earth by 2,437.5% during the second 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 during the last quarter. Bank of America Corp DE increased its position in shares of USA Rare Earth by 465.7% in the 2nd quarter. Bank of America Corp DE now owns 242,726 shares of the company's stock valued at $2,659,000 after acquiring an additional 199,819 shares during the period. Pier 88 Investment Partners LLC purchased a new position in USA Rare Earth in the 2nd quarter worth $588,000. Finally, Advisory Services Network LLC purchased a new position in USA Rare Earth in the 2nd quarter worth $562,000.

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.

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