USA Rare Earth (NASDAQ:USAR) Trading Down 6.5% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR) traded down 6.5% on Friday . The company traded as low as $17.81 and last traded at $17.99. Approximately 12,857,167 shares changed hands during trading, a decline of 22% from the average daily volume of 16,565,467 shares. The stock had previously closed at $19.25.

Analysts Set New Price Targets

USAR has been the subject of a number of research reports. Wedbush upped their price objective on USA Rare Earth from $29.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Needham & Company LLC decreased their price objective on USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Cantor Fitzgerald restated an “overweight” rating on shares of USA Rare Earth in a research report on Tuesday, August 11th. Roth Capital cut their target price on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Finally, Wall Street Zen upgraded shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, USA Rare Earth presently has an average rating of “Moderate Buy” and an average price target of $35.83.

USA Rare Earth Price Performance

The firm’s 50 day simple moving average is $18.07 and its two-hundred day simple moving average is $20.09. The firm has a market capitalization of $4.01 billion, a P/E ratio of -7.40 and a beta of 2.55.

USA Rare Earth (NASDAQ:USAR) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The firm had revenue of $5.82 million during the quarter. As a group, equities research analysts forecast that USA Rare Earth Inc. will post -0.62 EPS for the current year.

Insider Transactions at USA Rare Earth

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

Institutional Trading of USA Rare Earth

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of USA Rare Earth in the second quarter worth approximately $335,795,000. Bayshore Capital Advisors LLC purchased a new stake in USA Rare Earth during the 4th quarter valued at $102,378,000. Vanguard Group Inc. boosted its position in USA Rare Earth by 533.3% during the 4th quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock valued at $71,834,000 after buying an additional 5,083,288 shares during the period. California State Teachers Retirement System grew its holdings in USA Rare Earth by 3,636.5% in the 2nd quarter. California State Teachers Retirement System now owns 4,336,177 shares of the company’s stock worth $93,575,000 after acquiring an additional 4,220,129 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its position in shares of USA Rare Earth by 44.0% in the third quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock valued at $219,034,000 after acquiring an additional 3,909,455 shares during the period.

USA Rare Earth Company Profile

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.