USA Rare Earth (NASDAQ:USAR) Trading Down 2% – Time to Sell?

USA Rare Earth Inc. (NASDAQ:USAR)’s share price was down 2% during trading on Friday . The company traded as low as $23.50 and last traded at $23.57. Approximately 11,680,728 shares were traded during trading, an increase of 136% from the average daily volume of 4,954,270 shares. The stock had previously closed at $24.05.

Analyst Ratings Changes

A number of equities analysts have commented on USAR shares. William Blair started coverage on USA Rare Earth in a research note on Monday, October 20th. They set an “outperform” rating on the stock. Wall Street Zen lowered USA Rare Earth from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Weiss Ratings restated a “sell (d-)” rating on shares of USA Rare Earth in a research note on Friday. Canaccord Genuity Group raised their price objective on USA Rare Earth from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Finally, Roth Capital set a $40.00 price objective on USA Rare Earth in a research note on Friday, October 10th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

USA Rare Earth Trading Down 2.0%

The firm’s 50 day simple moving average is $20.02. The firm has a market cap of $2.68 billion, a P/E ratio of -87.30 and a beta of 0.75.

USA Rare Earth (NASDAQ:USAR) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.05.

Insider Buying and Selling at USA Rare Earth

In related news, Director Michael Blitzer sold 2,091,849 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $15.75, for a total transaction of $32,946,621.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 46.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On USA Rare Earth

Several hedge funds have recently modified their holdings of USAR. NewEdge Advisors LLC boosted its holdings in shares of USA Rare Earth by 158.2% during 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 in the last quarter. SBI Securities Co. Ltd. boosted its holdings in shares of USA Rare Earth by 10,448.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company’s stock valued at $29,000 after acquiring an additional 2,612 shares in the last quarter. Osaic Holdings Inc. acquired a new stake in shares of USA Rare Earth during the 2nd quarter valued at $38,000. KLP Kapitalforvaltning AS acquired a new stake in shares of USA Rare Earth during the 3rd quarter valued at $69,000. Finally, Titleist Asset Management LLC acquired a new stake in shares of USA Rare Earth during the 1st quarter valued at $145,000.

About USA Rare Earth

USA Rare Earth, Inc is domestic supplier of rare earth magnets and heavy rare earth elements. It is developing a vertically integrated, domestic supply chain for rare earth element magnet production, with a facility in Stillwater, Oklahoma, and mining rights to the Round Top heavy rare earth and critical minerals deposit in West Texas.