USA Rare Earth (NASDAQ:USAR) Shares Gap Down – What’s Next?

USA Rare Earth Inc. (NASDAQ:USAR) shares gapped down before the market opened on Thursday . The stock had previously closed at $18.28, but opened at $17.69. USA Rare Earth shares last traded at $17.41, with a volume of 3,417,651 shares changing hands.

Analyst Ratings Changes

Several research firms recently issued reports on USAR. William Blair initiated coverage on USA Rare Earth in a research note on Monday, October 20th. They issued an “outperform” rating on the stock. Benchmark reissued a “buy” rating on shares of USA Rare Earth in a research report on Monday, December 8th. Weiss Ratings restated a “sell (d-)” rating on shares of USA Rare Earth in a report on Monday, December 29th. UBS Group reaffirmed a “buy” rating on shares of USA Rare Earth in a research note on Monday, December 8th. Finally, Canaccord Genuity Group increased their price target on shares of USA Rare Earth from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.33.

USA Rare Earth Stock Down 7.2%

The stock’s fifty day simple moving average is $14.99 and its two-hundred day simple moving average is $16.50. The firm has a market cap of $2.25 billion, a PE ratio of -32.63 and a beta of 0.96.

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

Hedge Funds Weigh In On USA Rare Earth

Hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in USA Rare Earth in the second quarter worth about $250,000. MMCAP International Inc. SPC purchased a new stake in shares of USA Rare Earth during the second quarter valued at approximately $261,000. Pier 88 Investment Partners LLC bought a new stake in shares of USA Rare Earth during the second quarter valued at approximately $588,000. SBI Securities Co. Ltd. raised its holdings in USA Rare Earth by 10,448.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company’s stock worth $29,000 after acquiring an additional 2,612 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in USA Rare Earth by 2,437.5% in the 2nd quarter. Geode Capital Management LLC now owns 653,290 shares of the company’s stock worth $7,160,000 after acquiring an additional 627,545 shares during the last quarter.

About USA Rare Earth

USA Rare Earth (NASDAQ: USAR) is a development-stage critical minerals company focused on advancing a fully integrated rare earth element (REE) and lithium project in the United States. Its flagship asset is the Round Top deposit in West Texas, a large, polymetallic concentration of light and heavy rare earth elements, lithium and other co-products. The company seeks to move this asset through resource delineation, pilot-scale processing and eventual commercial production to address growing domestic demand for secure REE supply chains.

In addition to exploration, USA Rare Earth is engineering an on-site separation facility that will utilize dry magnetic separation and hydrometallurgical flowsheets to produce mixed rare earth carbonates.