Research analysts at Roth Capital started coverage on shares of USA Rare Earth (NASDAQ:USAR - Get Free Report) in a report released on Thursday, Marketbeat reports. The brokerage set a "buy" rating and a $15.00 price target on the stock. Roth Capital's price target indicates a potential upside of 72.02% from the stock's previous close.
USA Rare Earth Stock Performance
Shares of NASDAQ:USAR traded up $0.65 during trading hours on Thursday, hitting $8.72. 1,367,346 shares of the company's stock traded hands, compared to its average volume of 843,286. USA Rare Earth has a 1 year low of $5.56 and a 1 year high of $20.00.
USA Rare Earth (NASDAQ:USAR - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.19) earnings per share (EPS) for the quarter.
Institutional Trading of USA Rare Earth
A hedge fund recently bought a new stake in USA Rare Earth stock. Newtyn Management LLC purchased a new stake in USA Rare Earth Inc (NASDAQ:USAR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 692,650 shares of the company's stock, valued at approximately $4,114,000. USA Rare Earth accounts for 0.7% of Newtyn Management LLC's investment portfolio, making the stock its 24th largest position. Newtyn Management LLC owned 0.85% of USA Rare Earth at the end of the most recent quarter.
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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