Critical Metals (NASDAQ:CRML) Shares Gap Up – What’s Next?

Shares of Critical Metals Corp. (NASDAQ:CRML) gapped up before the market opened on Friday . The stock had previously closed at $7.36, but opened at $7.82. Critical Metals shares last traded at $7.4430, with a volume of 2,232,737 shares.

Wall Street Analyst Weigh In

CRML has been the subject of several recent research reports. Freedom Capital lowered Critical Metals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Weiss Ratings lowered shares of Critical Metals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 21st. Finally, Cantor Fitzgerald started coverage on shares of Critical Metals in a research note on Tuesday, July 14th. They issued a “speculative buy” rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Critical Metals presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Critical Metals Trading Up 0.3%

The business’s fifty day simple moving average is $7.26 and its 200-day simple moving average is $9.10.

Hedge Funds Weigh In On Critical Metals

Several hedge funds have recently made changes to their positions in the stock. Alyeska Investment Group L.P. purchased a new stake in Critical Metals during the 4th quarter worth about $27,130,000. UBS Group AG increased 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 valued at $15,240,000 after buying an additional 1,887,125 shares during the period. Nuveen LLC increased its position in shares of Critical Metals by 37.0% during 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 during the period. State Street Corp increased its position in shares of Critical Metals by 57.9% during 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 during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Critical Metals by 38.9% in the fourth quarter. Geode Capital Management LLC now owns 634,706 shares of the company’s stock worth $4,405,000 after buying an additional 177,909 shares in the last quarter. 86.44% of the stock is currently owned by hedge funds and other institutional investors.

About Critical Metals

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.