USA Rare Earth (NASDAQ:USAR) Trading Down 6.2% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR)’s share price traded down 6.2% during mid-day trading on Thursday . The company traded as low as $15.74 and last traded at $15.82. 14,159,231 shares were traded during trading, an increase of 166% from the average session volume of 5,326,864 shares. The stock had previously closed at $16.87.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. William Blair began coverage on shares of USA Rare Earth in a report on Monday, October 20th. They set an “outperform” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of USA Rare Earth in a research report on Wednesday, October 8th. Canaccord Genuity Group raised their price objective on shares of USA Rare Earth from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Cantor Fitzgerald began coverage on shares of USA Rare Earth in a research report on Friday, August 1st. They set an “overweight” rating and a $16.00 price objective for the company. Finally, Wall Street Zen cut shares of USA Rare Earth from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.00.

USA Rare Earth Stock Down 6.2%

The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -58.59 and a beta of 0.77. The company’s 50-day moving average is $20.57 and its 200-day moving average is $15.06.

USA Rare Earth (NASDAQ:USAR) last announced its 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 USA Rare Earth news, Director Michael Blitzer sold 2,091,849 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $15.75, for a total transaction of $32,946,621.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 46.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC boosted its stake in 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 buying an additional 1,424 shares during the period. SBI Securities Co. Ltd. boosted its stake in USA Rare Earth by 10,448.0% during the second quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company’s stock worth $29,000 after buying an additional 2,612 shares during the period. Osaic Holdings Inc. purchased a new position in USA Rare Earth during the second quarter worth about $38,000. KLP Kapitalforvaltning AS purchased a new position in USA Rare Earth during the third quarter worth about $69,000. Finally, Jones Financial Companies Lllp boosted its stake in USA Rare Earth by 2,204.3% during the third quarter. Jones Financial Companies Lllp now owns 8,065 shares of the company’s stock worth $140,000 after buying an additional 7,715 shares during the period.

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.