Critical Metals (NASDAQ:CRML) Shares Gap Up – Here’s What Happened

Shares of Critical Metals Corp. (NASDAQ:CRML) gapped up prior to trading on Thursday . The stock had previously closed at $10.75, but opened at $11.36. Critical Metals shares last traded at $11.4470, with a volume of 3,836,470 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently issued reports on CRML. Texas Capital raised Critical Metals to a “strong-buy” rating in a report on Thursday, April 16th. Freedom Capital raised Critical Metals to a “strong-buy” rating in a report on Tuesday, March 10th. Finally, Weiss Ratings raised Critical Metals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

Critical Metals Trading Up 3.5%

The firm has a fifty day simple moving average of $9.98 and a two-hundred day simple moving average of $10.44.

Hedge Funds Weigh In On Critical Metals

A number of large investors have recently made changes to their positions in CRML. Alyeska Investment Group L.P. bought a new position in shares of Critical Metals in the fourth quarter worth $27,130,000. UBS Group AG boosted its holdings in shares of Critical Metals by 610.9% in the fourth quarter. UBS Group AG now owns 2,196,037 shares of the company’s stock worth $15,240,000 after acquiring an additional 1,887,125 shares during the period. Bridgewater Associates LP bought a new position in shares of Critical Metals in the fourth quarter worth $4,237,000. Empery Asset Management LP bought a new position in shares of Critical Metals in the fourth quarter worth $3,411,000. Finally, Geode Capital Management LLC boosted its stake in Critical Metals by 272.6% during the second quarter. Geode Capital Management LLC now owns 455,006 shares of the company’s stock valued at $1,629,000 after buying an additional 332,878 shares during the period. 86.44% of the stock is owned by institutional investors.

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.