Critical Metals (NASDAQ:CRML) Trading 8.4% Higher – Still a Buy?

Shares of Critical Metals Corp. (NASDAQ:CRML) shot up 8.4% on Tuesday . The company traded as high as $7.06 and last traded at $7.23. 789,346 shares were traded during mid-day trading, a decline of 95% from the average session volume of 16,093,062 shares. The stock had previously closed at $6.67.

Analysts Set New Price Targets

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

Critical Metals Stock Performance

The company’s 50 day simple moving average is $10.70 and its two-hundred day simple moving average is $10.76.

Hedge Funds Weigh In On Critical Metals

Hedge funds have recently made changes to their positions in the stock. Alyeska Investment Group L.P. acquired a new stake in Critical Metals in the 4th quarter valued at approximately $27,130,000. UBS Group AG boosted its position in shares of Critical Metals by 610.9% during the fourth quarter. UBS Group AG now owns 2,196,037 shares of the company’s stock worth $15,240,000 after buying an additional 1,887,125 shares during the period. Nuveen LLC grew its stake in shares of Critical Metals by 37.0% in the fourth quarter. Nuveen LLC now owns 713,066 shares of the company’s stock valued at $4,949,000 after buying an additional 192,588 shares in the last quarter. State Street Corp grew its stake in shares of Critical Metals by 57.9% in the fourth quarter. State Street Corp now owns 696,550 shares of the company’s stock valued at $4,834,000 after buying an additional 255,499 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Critical Metals by 38.9% in the 4th quarter. Geode Capital Management LLC now owns 634,706 shares of the company’s stock valued at $4,405,000 after buying an additional 177,909 shares during the period. Hedge funds and other institutional investors own 86.44% of the company’s stock.

Critical Metals Company Profile

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.