USA Rare Earth Inc. (NASDAQ:USAR - Get Free Report) saw some unusual options trading on Thursday. Investors purchased 26,698 call options on the company. This represents an increase of 46% compared to the average daily volume of 18,343 call options.
Insider Activity
In related 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 46.60% of the company's stock.
Hedge Funds Weigh In On USA Rare Earth
Several hedge funds have recently bought and sold shares of USAR. NewEdge Advisors LLC grew its position in USA Rare Earth by 158.2% in the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company's stock valued at $25,000 after acquiring an additional 1,424 shares during the last quarter. SBI Securities Co. Ltd. grew its position 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 valued at $29,000 after acquiring an additional 2,612 shares during the last quarter. Osaic Holdings Inc. bought a new position in USA Rare Earth in the 2nd quarter valued at $38,000. LMR Partners LLP bought a new position in USA Rare Earth in the 2nd quarter valued at $145,000. Finally, Titleist Asset Management LLC bought a new position in USA Rare Earth in the 1st quarter valued at $145,000.
USA Rare Earth Stock Performance
Shares of NASDAQ USAR traded up $1.30 during trading hours on Thursday, hitting $17.96. 8,272,319 shares of the company traded hands, compared to its average volume of 2,792,976. The firm's 50 day moving average is $14.71. USA Rare Earth has a 12 month low of $5.56 and a 12 month high of $20.00.
USA Rare Earth (NASDAQ:USAR - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.05.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the company. Wall Street Zen cut USA Rare Earth from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Roth Capital reaffirmed a "buy" rating on shares of USA Rare Earth in a report on Friday, June 13th. Cantor Fitzgerald assumed coverage on USA Rare Earth in a report on Friday, August 1st. They set an "overweight" rating and a $16.00 price objective on the stock. Finally, Canaccord Genuity Group assumed coverage on USA Rare Earth in a report on Friday, June 13th. They set a "buy" rating and a $17.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $16.00.
Check Out Our Latest Analysis on USAR
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.
Further Reading
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