USA Rare Earth (NASDAQ:USAR) Trading 8.3% Higher - Here's What Happened

USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report) rose 8.3% during mid-day trading on Monday . The company traded as high as $11.64 and last traded at $11.60. Approximately 1,899,262 shares changed hands during mid-day trading, an increase of 46% from the average daily volume of 1,299,110 shares. The stock had previously closed at $10.71.

Analyst Ratings Changes

USAR has been the subject of a number of research analyst reports. Wall Street Zen raised shares of USA Rare Earth to a "sell" rating in a research report on Saturday, June 14th. Roth Capital reissued a "buy" rating on shares of USA Rare Earth in a research report on Friday, June 13th. Finally, Canaccord Genuity Group began coverage on shares of USA Rare Earth in a research report on Friday, June 13th. They issued a "buy" rating and a $17.00 price target for the company.

USA Rare Earth Stock Performance

The business's 50-day moving average is $10.64.

USA Rare Earth (NASDAQ:USAR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.19) earnings per share 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 purchased a new stake in USA Rare Earth Inc. (NASDAQ:USAR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 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.