5E Advanced Materials (NASDAQ:FEAM) Shares Break Above 50-Day Moving Average – Here’s What Happened

Shares of 5E Advanced Materials, Inc. (NASDAQ:FEAM) passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $2.34 and traded as high as $2.42. 5E Advanced Materials shares last traded at $2.38, with a volume of 240,115 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FEAM shares. HC Wainwright increased their price target on 5E Advanced Materials from $3.50 to $6.75 and gave the stock a “buy” rating in a report on Monday, October 5th. Weiss Ratings restated a “sell (e+)” rating on shares of 5E Advanced Materials in a research note on Thursday, October 15th. Finally, Wall Street Zen raised shares of 5E Advanced Materials from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $6.75.

5E Advanced Materials Stock Performance

The company has a market capitalization of $99.13 million, a PE ratio of -1.61 and a beta of 1.80. The firm’s 50-day simple moving average is $2.34 and its 200 day simple moving average is $1.98.

5E Advanced Materials (NASDAQ:FEAM) last issued its earnings results on Thursday, September 17th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.18.

Insider Activity

In other news, Director Graham van’t Hoff purchased 60,000 shares of the firm’s stock in a transaction dated Thursday, October 8th. The shares were acquired at an average price of $3.59 per share, with a total value of $215,400.00. Following the purchase, the director directly owned 102,997 shares of the company’s stock, valued at $369,759.23. The trade was a 139.54% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On 5E Advanced Materials

Several hedge funds have recently bought and sold shares of FEAM. AWM Investment Company Inc. purchased a new position in 5E Advanced Materials in the 2nd quarter valued at approximately $4,346,000. Aristides Capital LLC purchased a new position in shares of 5E Advanced Materials in the first quarter valued at $765,000. T3 Companies LLC purchased a new position in shares of 5E Advanced Materials in the third quarter valued at $514,000. Woodward Diversified Capital LLC increased its position in shares of 5E Advanced Materials by 59.9% in the third quarter. Woodward Diversified Capital LLC now owns 79,400 shares of the company’s stock valued at $268,000 after buying an additional 29,750 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of 5E Advanced Materials during the 1st quarter worth $268,000.

About 5E Advanced Materials

5E Advanced Materials, Inc is a critical materials company focused on developing domestic sources of boron and lithium. The company’s primary asset is the Fort Cady borate project in the Mojave Desert of Southern California, which it is advancing as a potential source of boric acid, lithium carbonate and other boron-based products.

Boron is used in applications including high-strength materials, glass and ceramics, agriculture, clean-energy technologies and defense-related products. Lithium carbonate is a key material used in the production of lithium-ion batteries.