USA Rare Earth (NASDAQ:USAR) Trading Down 2.4% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR) was down 2.4% on Friday . The stock traded as low as $13.93 and last traded at $14.49. Approximately 9,339,855 shares changed hands during mid-day trading, an increase of 71% from the average daily volume of 5,475,039 shares. The stock had previously closed at $14.85.

Analyst Ratings Changes

Several research firms have weighed in on USAR. Weiss Ratings reissued a “sell (d)” rating on shares of USA Rare Earth in a report on Thursday. Cantor Fitzgerald assumed coverage on USA Rare Earth in a research report on Friday, August 1st. They set an “overweight” rating and a $16.00 target price on the stock. Canaccord Genuity Group raised their price objective on USA Rare Earth from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Wall Street Zen lowered shares of USA Rare Earth from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Finally, Roth Capital set a $40.00 target price on shares of USA Rare Earth in a research report on Friday, October 10th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, USA Rare Earth currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.33.

USA Rare Earth Trading Down 2.4%

The stock has a market cap of $1.65 billion, a P/E ratio of -27.87 and a beta of 0.77. The firm’s fifty day moving average is $20.83 and its 200 day moving average is $15.25.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Altfest L J & Co. Inc. bought a new stake in shares of USA Rare Earth in the third quarter valued at about $13,554,000. Newtyn Management LLC bought a new position in USA Rare Earth during the first quarter valued at about $4,114,000. Geode Capital Management LLC raised its holdings in USA Rare Earth by 2,437.5% in the 2nd quarter. Geode Capital Management LLC now owns 653,290 shares of the company’s stock valued at $7,160,000 after acquiring an additional 627,545 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in USA Rare Earth in the 3rd quarter valued at approximately $4,463,000. Finally, HITE Hedge Asset Management LLC bought a new stake in shares of USA Rare Earth in the 3rd quarter worth approximately $3,972,000.

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.