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

USA Rare Earth Inc. (NASDAQ:USAR) gapped down before the market opened on Friday . The stock had previously closed at $17.48, but opened at $16.48. USA Rare Earth shares last traded at $17.11, with a volume of 3,519,186 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on USAR. William Blair began coverage on USA Rare Earth in a research report on Monday, October 20th. They issued an “outperform” rating for the company. Canaccord Genuity Group lifted 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. Wall Street Zen lowered shares of USA Rare Earth from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Roth Capital set a $40.00 target price on shares of USA Rare Earth in a report on Friday, October 10th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of USA Rare Earth in a research note on Monday. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, USA Rare Earth currently has an average rating of “Moderate Buy” and a consensus target price of $26.33.

USA Rare Earth Trading Down 0.4%

The business’s fifty day simple moving average is $20.31 and its 200-day simple moving average is $15.59. The firm has a market cap of $2.31 billion, a P/E ratio of -33.48 and a beta of 0.91.

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

Hedge Funds Weigh In On USA Rare Earth

Hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc purchased a new stake in USA Rare Earth in the third quarter worth $214,000. Advisory Services Network LLC raised its holdings in USA Rare Earth by 2.0% in the 3rd quarter. Advisory Services Network LLC now owns 52,366 shares of the company’s stock worth $900,000 after purchasing an additional 1,032 shares in the last quarter. XTX Topco Ltd bought a new position in USA Rare Earth in the 3rd quarter worth $686,000. Alyeska Investment Group L.P. lifted its position in shares of USA Rare Earth by 44.0% in the 3rd quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock worth $219,034,000 after purchasing an additional 3,909,455 shares during the period. Finally, Voleon Capital Management LP bought a new stake in shares of USA Rare Earth during the 3rd quarter valued at about $814,000.

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.