Critical Metals (NASDAQ:CRML) Trading Down 8.9% – Time to Sell?

Shares of Critical Metals Corp. (NASDAQ:CRML) traded down 8.9% during mid-day trading on Monday . The stock traded as low as $7.48 and last traded at $7.50. 2,573,512 shares traded hands during trading, a decline of 62% from the average session volume of 6,800,436 shares. The stock had previously closed at $8.23.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Critical Metals in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Critical Metals from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Critical Metals Stock Performance

The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $11.42 and a 200 day simple moving average of $6.59.

Institutional Investors Weigh In On Critical Metals

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRML. Linden Advisors LP bought a new position in Critical Metals in the first quarter valued at about $799,000. Geode Capital Management LLC raised its holdings in Critical Metals by 272.6% in the 2nd quarter. Geode Capital Management LLC now owns 455,006 shares of the company’s stock worth $1,629,000 after purchasing an additional 332,878 shares during the period. Creative Planning bought a new stake in Critical Metals during the third quarter valued at about $1,952,000. FNY Investment Advisers LLC bought a new position in shares of Critical Metals in the second quarter worth about $1,059,000. Finally, Shay Capital LLC purchased a new position in shares of Critical Metals during the 2nd quarter valued at about $984,000. Hedge funds and other institutional investors own 86.44% of the company’s stock.

About Critical Metals

Critical Metals Corp. engages in the mining, exploration, and development of lithium metals. It owns Wolfsberg Project and Tanbreez Project. The company was founded on October 24, 2022 and is headquartered in British Virgin Islands.