5E Advanced Materials (NASDAQ:FEAM) Issues Quarterly Earnings Results

5E Advanced Materials (NASDAQ:FEAM) posted its earnings results on Thursday. The company reported ($0.14) earnings per share for the quarter, FiscalAI reports.

5E Advanced Materials Stock Up 17.0%

Shares of NASDAQ:FEAM traded up $0.30 during midday trading on Thursday, hitting $2.06. The stock had a trading volume of 3,748,560 shares, compared to its average volume of 406,506. The company’s 50-day moving average price is $1.44 and its 200-day moving average price is $1.58. 5E Advanced Materials has a fifty-two week low of $0.90 and a fifty-two week high of $7.50. The company has a market capitalization of $85.51 million, a P/E ratio of -1.54 and a beta of 1.97.

Analysts Set New Price Targets

Several brokerages have weighed in on FEAM. Weiss Ratings reiterated a “sell (e+)” rating on shares of 5E Advanced Materials in a research note on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating and set a $3.50 target price (down from $5.50) on shares of 5E Advanced Materials in a report on Tuesday, August 4th. Finally, Wall Street Zen upgraded 5E Advanced Materials from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 5th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.25.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FEAM. LeClair Wealth Partners LLC lifted its stake in 5E Advanced Materials by 20.0% during the fourth quarter. LeClair Wealth Partners LLC now owns 30,000 shares of the company’s stock worth $92,000 after purchasing an additional 4,990 shares during the last quarter. Potomac Capital Management Inc. acquired a new stake in 5E Advanced Materials in the fourth quarter valued at about $186,000. Renaissance Technologies LLC bought a new position in 5E Advanced Materials in the first quarter valued at about $268,000. Aristides Capital LLC bought a new position in 5E Advanced Materials in the first quarter valued at about $765,000. Finally, AWM Investment Company Inc. acquired a new position in 5E Advanced Materials during the second quarter worth about $4,346,000.

5E Advanced Materials Company Profile

5E Advanced Materials, Inc is a development-stage company focused on producing boron and lithium products. Its primary project is the Fort Cady Borate and Lithium Project, a mineral resource located in Southern California’s Mojave Desert. The company is developing an integrated operation intended to extract boron and lithium from mineralized brines and produce refined materials for industrial and technology applications.

Planned products include boric acid, specialty boron materials and lithium carbonate.