USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report) shares traded up 1.4% on Thursday . The stock traded as high as $14.08 and last traded at $13.95. 835,985 shares traded hands during trading, a decline of 67% from the average session volume of 2,510,720 shares. The stock had previously closed at $13.76.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of USA Rare Earth in a research note on Friday, August 1st. They set an "overweight" rating and a $16.00 price target for the company. Roth Capital reaffirmed a "buy" rating on shares of USA Rare Earth in a research note on Friday, June 13th. Wall Street Zen cut shares of USA Rare Earth from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, Canaccord Genuity Group started coverage on shares of USA Rare Earth in a research note on Friday, June 13th. They issued a "buy" rating and a $17.00 target price for the company. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $16.00.
Read Our Latest Research Report on USA Rare Earth
USA Rare Earth Stock Up 2.5%
The stock's 50-day moving average is $13.60.
USA Rare Earth (NASDAQ:USAR - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.05.
Insiders Place Their Bets
In other news, Director Michael Blitzer sold 2,091,849 shares of the business'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 filing with the SEC, which is accessible through this link. 46.60% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On USA Rare Earth
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its holdings in USA Rare Earth by 158.2% in the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company's stock valued at $25,000 after purchasing an additional 1,424 shares during the period. SBI Securities Co. Ltd. grew its stake in USA Rare Earth by 10,448.0% during 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 shares of USA Rare Earth in the 2nd quarter valued at about $38,000. LMR Partners LLP acquired a new stake in USA Rare Earth during the 2nd quarter worth approximately $145,000. Finally, Titleist Asset Management LLC purchased a new position in shares of USA Rare Earth during the 1st quarter worth approximately $145,000.
USA Rare Earth Company Profile
(
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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