USA Rare Earth (NASDAQ:USAR) Sees Strong Trading Volume – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR) shares saw strong trading volume on Thursday . 17,009,824 shares changed hands during trading, an increase of 200% from the previous session’s volume of 5,666,470 shares.The stock last traded at $16.84 and had previously closed at $14.02.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on USAR shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of USA Rare Earth in a research report on Monday. Wall Street Zen downgraded USA Rare Earth from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. William Blair initiated coverage on shares of USA Rare Earth in a report on Monday, October 20th. They issued an “outperform” rating on the stock. Canaccord Genuity Group increased their price objective on shares of USA Rare Earth from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Roth Capital set a $40.00 price target on shares of USA Rare Earth in a research note on Friday, October 10th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

USA Rare Earth Trading Up 25.0%

The stock has a market cap of $2.33 billion, a P/E ratio of -33.71 and a beta of 0.91. The firm has a 50-day simple moving average of $20.32 and a two-hundred day simple moving average of $15.58.

USA Rare Earth (NASDAQ:USAR) last announced its earnings results on Thursday, November 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.19).

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Alyeska Investment Group L.P. boosted its stake in shares of USA Rare Earth by 44.0% in the third quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock valued at $219,034,000 after buying an additional 3,909,455 shares during the period. Vanguard Group Inc. increased its stake in USA Rare Earth by 9.9% during the 3rd quarter. Vanguard Group Inc. now owns 953,198 shares of the company’s stock worth $16,385,000 after acquiring an additional 86,134 shares during the period. Altfest L J & Co. Inc. acquired a new position in USA Rare Earth in the 3rd quarter valued at $13,554,000. Newtyn Management LLC acquired a new stake in shares of USA Rare Earth during the 1st quarter worth $4,114,000. Finally, Geode Capital Management LLC grew its holdings in shares of USA Rare Earth by 2,437.5% during the 2nd quarter. Geode Capital Management LLC now owns 653,290 shares of the company’s stock worth $7,160,000 after purchasing an additional 627,545 shares in the last quarter.

About USA Rare Earth

USA Rare Earth, Inc is domestic supplier of rare earth magnets and heavy rare earth elements. It is developing a vertically integrated, domestic supply chain for rare earth element magnet production, with a facility in Stillwater, Oklahoma, and mining rights to the Round Top heavy rare earth and critical minerals deposit in West Texas.