USA Rare Earth (NASDAQ:USAR) Stock Price Down 4.6% – Should You Sell?

USA Rare Earth Inc. (NASDAQ:USAR)’s stock price was down 4.6% on Tuesday. The stock traded as low as $11.26 and last traded at $11.28. Approximately 13,662,715 shares changed hands during trading, a decline of 15% from the average daily volume of 15,993,438 shares. The stock had previously closed at $11.82.

Analyst Ratings Changes

Several brokerages have recently commented on USAR. Roth Capital reduced their target price on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Cantor Fitzgerald restated an “overweight” rating on shares of USA Rare Earth in a report on Tuesday, August 11th. Needham & Company LLC dropped their target price on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Weiss Ratings downgraded shares of USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, Jefferies Financial Group assumed coverage on shares of USA Rare Earth in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $21.00 price objective for the company. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, USA Rare Earth presently has an average rating of “Moderate Buy” and an average price target of $33.71.

USA Rare Earth Trading Up 7.8%

The firm’s fifty day moving average price is $16.33 and its 200-day moving average price is $19.17. The company has a market cap of $2.72 billion, a P/E ratio of -4.57 and a beta of 2.66.

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

Institutional Investors Weigh In On USA Rare Earth

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of USA Rare Earth during the 2nd quarter worth $335,795,000. Inflection Point Holdings II LLC bought a new stake in USA Rare Earth during the 4th quarter valued at $37,188,000. Bank of America Corp DE purchased a new stake in shares of USA Rare Earth during the second quarter worth about $32,762,000. Korea Investment CORP bought a new stake in shares of USA Rare Earth in the 2nd quarter worth approximately $18,108,000. Finally, Weiss Asset Management LP purchased a new stake in USA Rare Earth in the first quarter worth $17,103,000.

About USA Rare Earth

USA Rare Earth, Inc is a U.S.-based critical minerals company focused on developing a domestic, vertically integrated supply chain for rare earth elements and rare earth permanent magnets. The company’s activities span the planned mining and processing of rare earth materials and the manufacture of neodymium-iron-boron (NdFeB) magnets, which are used in electric vehicles, renewable energy systems, electronics, aerospace and defense applications.

The company’s principal resource project is the Round Top rare earth and critical minerals project in Hudspeth County, Texas.