Critical Metals (NASDAQ:CRML) Shares Up 9.7% – Should You Buy?

Shares of Critical Metals Corp. (NASDAQ:CRML) were up 9.7% during trading on Thursday. The stock traded as high as $6.78 and last traded at $6.8650. 5,291,695 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 11,541,183 shares. The stock had previously closed at $6.26.

Analysts Set New Price Targets

A number of research analysts have weighed in on CRML shares. Cantor Fitzgerald started coverage on shares of Critical Metals in a research report on Tuesday, July 14th. They set a “speculative buy” rating and a $18.00 price objective on the stock. UBS Group set a $20.00 target price on shares of Critical Metals in a research report on Monday, October 5th. Weiss Ratings raised shares of Critical Metals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 28th. Wall Street Zen cut Critical Metals from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 3rd. Finally, Freedom Capital cut Critical Metals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Critical Metals Stock Up 8.6%

The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average price is $7.08 and its 200-day moving average price is $8.66.

Institutional Investors Weigh In On Critical Metals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC purchased a new stake in Critical Metals in the 2nd quarter valued at about $29,000. Allworth Financial LP increased its position in shares of Critical Metals by 53.4% during the second quarter. Allworth Financial LP now owns 5,055 shares of the company’s stock worth $52,000 after acquiring an additional 1,760 shares during the period. Corient Private Wealth LP raised its position in Critical Metals by 153.9% in the 2nd quarter. Corient Private Wealth LP now owns 136,618 shares of the company’s stock valued at $1,400,000 after purchasing an additional 82,815 shares in the last quarter. Bank of America Corp DE lifted its stake in Critical Metals by 327.5% in the first quarter. Bank of America Corp DE now owns 229,907 shares of the company’s stock worth $1,825,000 after acquiring an additional 176,123 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Critical Metals by 121.4% during the first quarter. Royal Bank of Canada now owns 10,947 shares of the company’s stock worth $87,000 after purchasing an additional 6,002 shares in the last quarter. Institutional investors and hedge funds own 86.44% of the company’s stock.

Critical Metals Company Profile

Critical Metals Corp. (NASDAQ: CRML) is a mining and development company focused on advancing projects that supply critical minerals used in energy, technology and industrial applications. The company’s portfolio is centered on lithium and rare earth elements, which are important inputs for electric vehicles, batteries, renewable energy systems and advanced manufacturing.

Its flagship asset is the Wolfsberg Lithium Project in Austria. Critical Metals is developing the project as an integrated European lithium operation, with plans covering the production of lithium-related materials for the battery supply chain.