USA Rare Earth (NASDAQ:USAR) Shares Up 6.8% - Time to Buy?

USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report) shares traded up 6.8% during mid-day trading on Wednesday . The company traded as high as $12.90 and last traded at $12.82. 685,420 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 1,135,055 shares. The stock had previously closed at $12.00.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. 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 target price for the company. Wall Street Zen upgraded USA Rare Earth to a "sell" rating in a report on Saturday, June 14th. Finally, Roth Capital restated a "buy" rating on shares of USA Rare Earth in a report on Friday, June 13th.

USA Rare Earth Stock Down 4.2%

The stock's 50-day simple moving average is $10.86.

USA Rare Earth (NASDAQ:USAR - Get Free Report) last released 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. Titleist Asset Management LLC bought a new stake in shares of USA Rare Earth Inc. (NASDAQ:USAR - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,450 shares of the company's stock, valued at approximately $145,000.

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.