5E Advanced Materials (NASDAQ:FEAM) Stock Price Down 3.8% – Here’s What Happened

5E Advanced Materials, Inc. (NASDAQ:FEAM)’s share price dropped 3.8% during trading on Friday . The company traded as low as $3.82 and last traded at $3.82. Approximately 41,969 shares traded hands during trading, a decline of 41% from the average daily volume of 71,712 shares. The stock had previously closed at $3.97.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of 5E Advanced Materials from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of 5E Advanced Materials in a report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $9.25 price target on shares of 5E Advanced Materials in a research report on Friday, November 21st. Zacks Research raised 5E Advanced Materials to a “hold” rating in a report on Friday, October 10th. Finally, Maxim Group set a $7.00 target price on 5E Advanced Materials and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $8.13.

5E Advanced Materials Trading Down 3.8%

The firm’s fifty day simple moving average is $4.67 and its two-hundred day simple moving average is $4.14. The company has a market capitalization of $85.74 million, a price-to-earnings ratio of -0.54 and a beta of 1.61.

5E Advanced Materials (NASDAQ:FEAM) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.07. As a group, analysts forecast that 5E Advanced Materials, Inc. will post -9.22 EPS for the current fiscal year.

Hedge Funds Weigh In On 5E Advanced Materials

Several hedge funds have recently bought and sold shares of the company. Marex Group plc purchased a new stake in 5E Advanced Materials during the second quarter worth $665,000. Woodward Diversified Capital LLC acquired a new stake in 5E Advanced Materials in the 3rd quarter valued at about $49,000. Finally, Hohimer Wealth Management LLC acquired a new position in 5E Advanced Materials during the third quarter worth about $785,000.

About 5E Advanced Materials

5E Advanced Materials, Inc engages in the exploration and development of mineral properties in Australia and the United States. The company primarily explores for borates and lithium deposits. It holds 100% interest in the Fort Cady project located in the Mojave Desert region in eastern San Bernardino County, California.