Critical Metals (NASDAQ:CRML) Stock Price Up 10% – Still a Buy?

Critical Metals Corp. (NASDAQ:CRML) shares rose 10% during mid-day trading on Tuesday. The company traded as high as $7.02 and last traded at $7.0150. Approximately 2,751,869 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 11,298,646 shares. The stock had previously closed at $6.38.

Wall Street Analysts Forecast Growth

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

Critical Metals Trading Up 1.3%

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 business’s fifty day moving average price is $7.10 and its 200-day moving average price is $9.38.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bank of America Corp DE grew its stake in Critical Metals by 327.5% in the first quarter. Bank of America Corp DE now owns 229,907 shares of the company’s stock worth $1,825,000 after purchasing an additional 176,123 shares during the period. 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 acquiring an additional 82,815 shares during the last quarter. Quantinno Capital Management LP bought a new stake in shares of Critical Metals during the 1st quarter valued at $434,000. Bank of New York Mellon Corp raised its position in shares of Critical Metals by 31.1% during the first quarter. Bank of New York Mellon Corp now owns 123,904 shares of the company’s stock valued at $984,000 after buying an additional 29,427 shares during the last quarter. Finally, Canton Hathaway LLC boosted its stake in Critical Metals by 75.0% during the third quarter. Canton Hathaway LLC now owns 35,000 shares of the company’s stock valued at $254,000 after buying an additional 15,000 shares during the last quarter. 86.44% of the stock is owned by institutional investors.

Critical Metals Company Profile

Critical Metals Corp. is a mineral development company focused on advancing projects that supply critical raw materials for the energy transition and other high-technology applications. Its principal asset is the Wolfsberg Lithium Project in Carinthia, Austria, which is designed to produce lithium hydroxide for use in electric-vehicle batteries and other battery applications.

The Wolfsberg project includes plans for an integrated operation combining underground mining, mineral processing and downstream lithium conversion.