USA Rare Earth (NASDAQ:USAR) Stock Price Down 4.8% – What’s Next?

Shares of USA Rare Earth Inc. (NASDAQ:USAR) were down 4.8% during trading on Wednesday . The stock traded as low as $16.89 and last traded at $17.31. 8,013,990 shares traded hands during trading, a decline of 54% from the average daily volume of 17,537,518 shares. The stock had previously closed at $18.19.

Wall Street Analysts Forecast Growth

USAR has been the subject of a number of research analyst reports. Northland Securities initiated coverage on shares of USA Rare Earth in a research note on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 target price for the company. Roth Capital reissued a “buy” rating on shares of USA Rare Earth in a research note on Thursday, June 4th. Weiss Ratings upgraded USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, May 14th. Wedbush upped their price objective on USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Finally, Canaccord Genuity Group increased their price objective on USA Rare Earth from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.83.

USA Rare Earth Stock Down 4.8%

The firm has a market cap of $3.86 billion, a price-to-earnings ratio of -4.42 and a beta of 2.45. The company’s fifty day moving average is $23.19 and its 200 day moving average is $20.50.

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

Insider Buying and Selling at USA Rare Earth

In other news, Director Carolyn Trabuco sold 13,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $22.77, for a total value of $296,010.00. Following the completion of the transaction, the director owned 18,783 shares in the company, valued at $427,688.91. This trade represents a 40.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.10% of the stock is owned by insiders.

Institutional Trading of USA Rare Earth

Institutional investors and hedge funds have recently bought and sold shares of the stock. Handelsbanken Fonder AB acquired a new position in USA Rare Earth during the second quarter valued at approximately $1,612,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of USA Rare Earth during the 2nd quarter worth approximately $200,000. FNY Investment Advisers LLC raised 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 in the last quarter. GK Wealth Management LLC bought a new stake in shares of USA Rare Earth during the 2nd quarter worth approximately $531,000. Finally, GAMMA Investing LLC boosted 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 buying an additional 1,838 shares during the last quarter.

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.