Critical Metals (NASDAQ:CRML) Hits New 1-Year Low – Here’s Why

Critical Metals Corp. (NASDAQ:CRML) hit a new 52-week low during mid-day trading on Friday. The stock traded as low as $5.08 and last traded at $5.12, with a volume of 1,347,604 shares trading hands. The stock had previously closed at $5.31.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CRML. UBS Group set a $20.00 price target on Critical Metals in a research note on Monday, October 5th. Wall Street Zen cut shares of Critical Metals from a “sell” rating to a “strong sell” rating in a report on Saturday, October 3rd. Weiss Ratings raised shares of Critical Metals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 28th. Finally, Freedom Capital cut Critical Metals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Critical Metals Stock Down 8.1%

The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $6.86 and a two-hundred day moving average of $8.73.

Insider Buying and Selling at Critical Metals

In other news, CFO Sergey Savchenko sold 66,667 shares of the company’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $6.81, for a total transaction of $454,002.27. Following the completion of the sale, the chief financial officer directly owned 93,333 shares in the company, valued at $635,597.73. This represents a 41.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 65.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Critical Metals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Edgestream Partners L.P. acquired a new stake in Critical Metals during the third quarter valued at approximately $2,386,000. Alps Advisors Inc. lifted its stake in Critical Metals by 49.5% during the third quarter. Alps Advisors Inc. now owns 594,268 shares of the company’s stock valued at $4,314,000 after buying an additional 196,731 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Critical Metals by 327.5% during the first quarter. Bank of America Corp DE now owns 229,907 shares of the company’s stock valued at $1,825,000 after acquiring an additional 176,123 shares during the period. Corient Private Wealth LP raised its holdings in shares of Critical Metals by 153.9% during the second quarter. Corient Private Wealth LP now owns 136,618 shares of the company’s stock valued at $1,400,000 after acquiring an additional 82,815 shares during the period. Finally, Verity Asset Management Inc. acquired a new position in Critical Metals in the 3rd quarter worth approximately $559,000. 86.44% of the stock is owned by institutional investors and hedge funds.

Critical Metals Company Profile

Critical Metals Corp. is a mineral development company focused on resources used in clean energy, advanced manufacturing and other technology applications. Its portfolio includes the Tanbreez rare earth project in southern Greenland and the Wolfsberg lithium project in Austria. At Tanbreez, the company is advancing a deposit containing rare earth elements and other minerals. The project is intended to supply materials for uses such as permanent magnets and electronics. Wolfsberg is a hard-rock lithium project that Critical Metals is developing to serve the European battery supply chain.