USA Rare Earth (NASDAQ:USAR) Stock Dropped to Strong Sell by Wall Street Zen

Wall Street Zen cut shares of USA Rare Earth (NASDAQ:USAR) from a sell rating to a strong sell rating in a research report released on Saturday morning,Wall Street Zen reports.

Several other research analysts also recently issued reports on the company. Needham & Company LLC reduced their price objective on USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Cantor Fitzgerald reissued an “overweight” rating on shares of USA Rare Earth in a research note on Tuesday, August 11th. Roth Capital lowered their target price on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Texas Capital upgraded USA Rare Earth to a “strong-buy” rating in a research report on Tuesday, October 20th. Finally, Weiss Ratings downgraded USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.71.

USA Rare Earth Trading Down 3.1%

Shares of USAR stock opened at $9.33 on Friday. USA Rare Earth has a 1 year low of $9.26 and a 1 year high of $32.80. The firm’s 50 day moving average is $15.12 and its 200-day moving average is $18.89. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -3.84 and a beta of 2.66.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The firm had revenue of $5.82 million for the quarter. On average, equities research analysts forecast that USA Rare Earth will post -0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On USA Rare Earth

Hedge funds have recently modified their holdings of the business. Corecam Pte. Ltd. increased its position in USA Rare Earth by 33.0% during the 3rd quarter. Corecam Pte. Ltd. now owns 19,606 shares of the company’s stock worth $276,000 after buying an additional 4,869 shares during the period. Wedbush Securities Inc. acquired a new stake in shares of USA Rare Earth during the third quarter worth $247,000. Sterling Capital Management LLC boosted its position in shares of USA Rare Earth by 955.3% in the third quarter. Sterling Capital Management LLC now owns 7,197 shares of the company’s stock valued at $101,000 after acquiring an additional 6,515 shares during the period. Credit Capital Investments LLC bought a new stake in shares of USA Rare Earth in the third quarter valued at about $324,000. Finally, Brookstone Capital Management boosted its position in shares of USA Rare Earth by 48.0% in the third quarter. Brookstone Capital Management now owns 16,259 shares of the company’s stock valued at $229,000 after acquiring an additional 5,275 shares during the period.

USA Rare Earth Company Profile

USA Rare Earth, Inc (NASDAQ:USAR) is developing an integrated domestic supply chain for rare earth and other critical minerals. The company’s activities include the exploration and planned extraction of mineral resources, processing and separation of rare earth elements, and the production of sintered neodymium-iron-boron (NdFeB) permanent magnets used in electric vehicles, wind turbines, defense systems, electronics and other advanced technologies.

The company’s flagship asset is the Round Top Mountain project in Hudspeth County, Texas.