USA Rare Earth (NASDAQ:USAR) Shares Down 17.1% – What’s Next?

USA Rare Earth Inc. (NASDAQ:USAR) dropped 17.1% during trading on Friday . The stock traded as low as $22.27 and last traded at $22.47. Approximately 19,866,997 shares changed hands during mid-day trading, an increase of 7% from the average daily volume of 18,637,961 shares. The stock had previously closed at $27.10.

Analysts Set New Price Targets

USAR has been the topic of a number of recent analyst reports. Roth Mkm restated a “buy” rating on shares of USA Rare Earth in a report on Thursday. Wedbush increased their price target on shares of USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Wall Street Zen raised shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Canaccord Genuity Group boosted their price objective on shares of USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Finally, Benchmark reiterated a “buy” rating on shares of USA Rare Earth in a research note on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.83.

USA Rare Earth Trading Down 17.1%

The business has a 50 day moving average of $22.09 and a two-hundred day moving average of $19.23. The firm has a market cap of $5.01 billion, a P/E ratio of -5.73 and a beta of 2.33.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $5.70 million for the quarter. On average, sell-side analysts predict that USA Rare Earth Inc. will post -0.33 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of USAR. NewEdge Advisors LLC raised its holdings in USA Rare Earth by 158.2% in the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock valued at $25,000 after acquiring an additional 1,424 shares during the period. Raymond James Financial Inc. acquired a new position in shares of USA Rare Earth in the second quarter valued at approximately $223,000. Lighthouse Investment Partners LLC bought a new position in shares of USA Rare Earth during the second quarter worth approximately $329,000. Bank of America Corp DE increased its stake in shares of USA Rare Earth by 465.7% during the second quarter. Bank of America Corp DE now owns 242,726 shares of the company’s stock worth $2,659,000 after purchasing an additional 199,819 shares during the period. Finally, LMR Partners LLP acquired a new stake in USA Rare Earth during the 2nd quarter worth approximately $145,000.

About USA Rare Earth

USA Rare Earth (NASDAQ: USAR) is a development-stage critical minerals company focused on advancing a fully integrated rare earth element (REE) and lithium project in the United States. Its flagship asset is the Round Top deposit in West Texas, a large, polymetallic concentration of light and heavy rare earth elements, lithium and other co-products. The company seeks to move this asset through resource delineation, pilot-scale processing and eventual commercial production to address growing domestic demand for secure REE supply chains.

In addition to exploration, USA Rare Earth is engineering an on-site separation facility that will utilize dry magnetic separation and hydrometallurgical flowsheets to produce mixed rare earth carbonates.