Critical Metals (NASDAQ:CRML) Shares Gap Down – Here’s Why

Shares of Critical Metals Corp. (NASDAQ:CRML) gapped down prior to trading on Tuesday . The stock had previously closed at $11.94, but opened at $11.54. Critical Metals shares last traded at $11.4730, with a volume of 10,742,509 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Texas Capital raised shares of Critical Metals to a “strong-buy” rating in a report on Thursday, April 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Critical Metals in a report on Wednesday, January 21st. Finally, Freedom Capital raised shares of Critical Metals to a “strong-buy” rating in a report on Tuesday, March 10th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

Critical Metals Stock Down 11.8%

The stock’s 50 day moving average is $9.21 and its 200 day moving average is $11.01.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CRML. National Bank of Canada FI acquired a new position in Critical Metals in the 3rd quarter valued at about $25,000. Sunbelt Securities Inc. acquired a new position in Critical Metals in the 4th quarter valued at about $28,000. Royal Bank of Canada grew its stake in Critical Metals by 899.0% in the 4th quarter. Royal Bank of Canada now owns 4,945 shares of the company’s stock valued at $35,000 after buying an additional 4,450 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Critical Metals in the 2nd quarter valued at about $37,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Critical Metals in the 3rd quarter valued at about $38,000. Institutional investors and hedge funds own 86.44% of the company’s stock.

About Critical Metals

Critical Metals Corp. engages in the mining, exploration, and development of lithium metals. It owns Wolfsberg Project and Tanbreez Project. The company was founded on October 24, 2022 and is headquartered in British Virgin Islands.