USA Rare Earth (NASDAQ:USAR) Stock Price Down 4.8% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price dropped 4.8% during mid-day trading on Wednesday . The stock traded as low as $16.43 and last traded at $16.92. Approximately 9,176,618 shares traded hands during mid-day trading, an increase of 69% from the average daily volume of 5,437,626 shares. The stock had previously closed at $17.77.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wall Street Zen cut shares of USA Rare Earth from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Canaccord Genuity Group boosted their price target on USA Rare Earth from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, November 7th. William Blair initiated coverage on shares of USA Rare Earth in a research note on Monday, October 20th. They issued an “outperform” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of USA Rare Earth in a report on Wednesday, October 8th. Finally, Roth Capital set a $40.00 target price on shares of USA Rare Earth in a report on Friday, October 10th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

USA Rare Earth Trading Down 4.8%

The stock has a market capitalization of $1.93 billion, a PE ratio of -32.54 and a beta of 0.77. The business’s 50 day moving average is $20.75 and its 200 day moving average is $15.24.

USA Rare Earth (NASDAQ:USAR) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.19).

Institutional Trading of USA Rare Earth

A number of large investors have recently modified their holdings of USAR. NewEdge Advisors LLC increased its holdings in USA Rare Earth by 158.2% during the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after purchasing an additional 1,424 shares during the period. SBI Securities Co. Ltd. lifted its position in shares of USA Rare Earth by 10,448.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company’s stock worth $29,000 after purchasing an additional 2,612 shares during the period. Osaic Holdings Inc. bought a new stake in USA Rare Earth during the 2nd quarter valued at $38,000. KLP Kapitalforvaltning AS purchased a new position in shares of USA Rare Earth in the 3rd quarter valued at $69,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of USA Rare Earth by 2,204.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 8,065 shares of the company’s stock worth $140,000 after purchasing an additional 7,715 shares during the last quarter.

USA Rare Earth Company Profile

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.