USA Rare Earth (NASDAQ:USAR) Shares Down 12.2% – Time to Sell?

USA Rare Earth Inc. (NASDAQ:USAR) dropped 12.2% on Thursday . The company traded as low as $14.68 and last traded at $14.85. Approximately 9,587,012 shares changed hands during mid-day trading, an increase of 76% from the average daily volume of 5,455,068 shares. The stock had previously closed at $16.92.

Analyst Upgrades and Downgrades

USAR has been the topic of several recent research reports. Weiss Ratings restated a “sell (d)” rating on shares of USA Rare Earth in a research report on Thursday. Roth Capital set a $40.00 target price on shares of USA Rare Earth in a report on Friday, October 10th. Cantor Fitzgerald started coverage on shares of USA Rare Earth in a report on Friday, August 1st. They set an “overweight” rating and a $16.00 price target for the company. William Blair began coverage on shares of USA Rare Earth in a research report on Monday, October 20th. They issued an “outperform” rating for the company. Finally, Canaccord Genuity Group raised their target price on shares of USA Rare Earth from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $26.33.

USA Rare Earth Trading Down 2.4%

The stock’s 50 day moving average price is $20.84 and its 200 day moving average price is $15.28.

USA Rare Earth (NASDAQ:USAR) last released its earnings results on Thursday, November 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.19).

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in USAR. Pier 88 Investment Partners LLC purchased a new position in shares of USA Rare Earth in the 2nd quarter worth about $588,000. Newtyn Management LLC acquired a new stake in USA Rare Earth during the 1st quarter worth approximately $4,114,000. Titleist Asset Management LLC acquired a new stake in USA Rare Earth during the 1st quarter worth approximately $145,000. MMCAP International Inc. SPC purchased a new position in USA Rare Earth in the second quarter valued at approximately $261,000. Finally, International Assets Investment Management LLC purchased a new position in USA Rare Earth in the second quarter valued at approximately $250,000.

About USA Rare Earth

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.