USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report) shares rose 8.6% during mid-day trading on Tuesday . The company traded as high as $30.41 and last traded at $28.59. Approximately 6,669,646 shares changed hands during trading, an increase of 102% from the average daily volume of 3,304,636 shares. The stock had previously closed at $26.32.
Wall Street Analysts Forecast Growth
USAR has been the subject of a number of research reports. Canaccord Genuity Group boosted their target price on USA Rare Earth from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Wall Street Zen cut USA Rare Earth from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of USA Rare Earth in a research report on Saturday, September 27th. Cantor Fitzgerald initiated coverage on USA Rare Earth in a research note on Friday, August 1st. They issued an "overweight" rating and a $16.00 price objective on the stock. Finally, Roth Capital restated a "buy" rating on shares of USA Rare Earth in a research report on Monday, September 29th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.67.
Get Our Latest Analysis on USA Rare Earth
USA Rare Earth Stock Up 9.9%
The stock's 50-day moving average is $15.87.
USA Rare Earth (NASDAQ:USAR - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.05.
Insider Buying and Selling
In related news, Director Michael Blitzer sold 2,091,849 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $15.75, for a total value of $32,946,621.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 46.60% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC boosted its holdings 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 worth $25,000 after purchasing an additional 1,424 shares during the period. SBI Securities Co. Ltd. lifted its stake in USA Rare Earth by 10,448.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company's stock worth $29,000 after purchasing an additional 2,612 shares in the last quarter. Osaic Holdings Inc. purchased a new stake in USA Rare Earth in the 2nd quarter worth $38,000. LMR Partners LLP bought a new stake in shares of USA Rare Earth in the 2nd quarter worth about $145,000. Finally, Diametric Capital LP bought a new position in USA Rare Earth during the 2nd quarter valued at about $147,000.
About USA Rare Earth
(
Get Free Report)
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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