USA Rare Earth (NASDAQ:USAR) Stock Price Down 2.1% – Should You Sell?

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price fell 2.1% on Friday . The company traded as low as $18.30 and last traded at $18.48. Approximately 5,906,285 shares traded hands during trading, a decline of 67% from the average daily volume of 17,731,211 shares. The stock had previously closed at $18.87.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on USAR. Needham & Company LLC assumed coverage on shares of USA Rare Earth in a report on Monday, June 1st. They issued a “buy” rating and a $39.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $40.00 target price on shares of USA Rare Earth in a report on Thursday, June 4th. 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 lifted their price target on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings upgraded shares of USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, May 14th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, USA Rare Earth currently has an average rating of “Moderate Buy” and an average price target of $36.83.

USA Rare Earth Stock Down 2.1%

The firm has a fifty day moving average of $23.63 and a 200-day moving average of $20.42. The firm has a market cap of $4.12 billion, a P/E ratio of -4.71 and a beta of 2.45.

USA Rare Earth (NASDAQ:USAR) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $5.70 million during the quarter. On average, equities analysts forecast that USA Rare Earth Inc. will post -0.35 EPS for the current year.

Insider Activity at USA Rare Earth

In related news, Director Carolyn Trabuco sold 13,000 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $22.77, for a total value of $296,010.00. Following the completion of the transaction, the director directly owned 18,783 shares of the company’s stock, valued at approximately $427,688.91. This trade represents a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.10% of the company’s stock.

Institutional Trading of USA Rare Earth

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB acquired a new stake in USA Rare Earth in the second quarter valued at $1,612,000. Redhawk Wealth Advisors Inc. bought a new position in shares of USA Rare Earth in the 2nd quarter valued at about $200,000. FNY Investment Advisers LLC increased its stake in shares of USA Rare Earth by 51,400.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 30,900 shares of the company’s stock worth $666,000 after purchasing an additional 30,840 shares during the last quarter. GK Wealth Management LLC bought a new stake in shares of USA Rare Earth in the 2nd quarter valued at about $531,000. Finally, GAMMA Investing LLC raised its holdings in shares of USA Rare Earth by 98.9% in the 2nd quarter. GAMMA Investing LLC now owns 3,696 shares of the company’s stock valued at $80,000 after purchasing an additional 1,838 shares during the period.

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.