Critical Metals (NASDAQ:CRML) Shares Gap Up – Here’s What Happened

Critical Metals Corp. (NASDAQ:CRML) shares gapped up prior to trading on Wednesday. The stock had previously closed at $6.54, but opened at $6.79. Critical Metals shares last traded at $6.3930, with a volume of 2,545,458 shares trading hands.

Analysts Set New Price Targets

CRML has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Critical Metals from a “sell” rating to a “strong sell” rating in a report on Saturday, October 3rd. Cantor Fitzgerald initiated coverage on shares of Critical Metals in a research report on Tuesday, July 14th. They set a “speculative buy” rating and a $18.00 target price on the stock. UBS Group set a $20.00 target price on shares of Critical Metals in a research report on Monday, October 5th. Freedom Capital cut shares of Critical Metals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of Critical Metals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.00.

Critical Metals Trading Up 11.0%

The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. The company has a 50-day moving average price of $7.09 and a 200-day moving average price of $8.66.

Institutional Trading of Critical Metals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its holdings in Critical Metals by 327.5% in the 1st quarter. Bank of America Corp DE now owns 229,907 shares of the company’s stock valued at $1,825,000 after purchasing an additional 176,123 shares in the last quarter. Corient Private Wealth LP boosted its stake in shares of Critical Metals by 153.9% during the 2nd quarter. Corient Private Wealth LP now owns 136,618 shares of the company’s stock worth $1,400,000 after purchasing an additional 82,815 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Critical Metals by 53.4% during the 2nd quarter. Allworth Financial LP now owns 5,055 shares of the company’s stock worth $52,000 after purchasing an additional 1,760 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Critical Metals by 121.4% during the 1st quarter. Royal Bank of Canada now owns 10,947 shares of the company’s stock worth $87,000 after purchasing an additional 6,002 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in shares of Critical Metals during the 1st quarter worth about $434,000. Hedge funds and other institutional investors own 86.44% of the company’s stock.

Critical Metals Company Profile

Critical Metals Corp. (NASDAQ: CRML) is a mining and development company focused on advancing projects that supply critical minerals used in energy, technology and industrial applications. The company’s portfolio is centered on lithium and rare earth elements, which are important inputs for electric vehicles, batteries, renewable energy systems and advanced manufacturing.

Its flagship asset is the Wolfsberg Lithium Project in Austria. Critical Metals is developing the project as an integrated European lithium operation, with plans covering the production of lithium-related materials for the battery supply chain.