Critical Metals (NASDAQ:CRML) Trading 7.1% Higher – Time to Buy?

Shares of Critical Metals Corp. (NASDAQ:CRML) rose 7.1% on Friday . The stock traded as high as $11.00 and last traded at $10.78. Approximately 11,894,197 shares changed hands during mid-day trading, an increase of 73% from the average daily volume of 6,864,189 shares. The stock had previously closed at $10.07.

Wall Street Analyst Weigh In

CRML has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Critical Metals from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Critical Metals in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Critical Metals Stock Up 7.1%

The firm’s fifty day moving average is $10.66 and its two-hundred day moving average is $5.68. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16.

Institutional Investors Weigh In On Critical Metals

Hedge funds have recently made changes to their positions in the company. Canton Hathaway LLC bought a new position in shares of Critical Metals during the 2nd quarter valued at approximately $308,000. CWM LLC grew its stake in shares of Critical Metals by 456.6% in the 2nd quarter. CWM LLC now owns 31,284 shares of the company’s stock worth $112,000 after buying an additional 25,663 shares in the last quarter. Abacus Wealth Partners LLC bought a new stake in shares of Critical Metals in the 2nd quarter worth about $179,000. Alps Advisors Inc. lifted its holdings in shares of Critical Metals by 139.8% in the 1st quarter. Alps Advisors Inc. now owns 36,799 shares of the company’s stock valued at $51,000 after acquiring an additional 21,451 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new position in Critical Metals in the second quarter worth about $358,000. 86.44% of the stock is currently owned by hedge funds and other 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.