USA Rare Earth (NASDAQ:USAR) Stock Price Down 1.5% – Here’s Why

Shares of USA Rare Earth Inc. (NASDAQ:USAR) were down 1.5% on Friday . The stock traded as low as $16.48 and last traded at $17.22. Approximately 14,067,464 shares were traded during mid-day trading, an increase of 145% from the average daily volume of 5,734,409 shares. The stock had previously closed at $17.48.

Analyst Upgrades and Downgrades

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

USA Rare Earth Stock Performance

The stock has a 50 day moving average of $20.31 and a two-hundred day moving average of $15.59. The firm has a market capitalization of $2.28 billion, a P/E ratio of -33.12 and a beta of 0.91.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of USAR. Pier 88 Investment Partners LLC bought a new stake in USA Rare Earth during the second quarter valued at about $588,000. Newtyn Management LLC acquired a new position in shares of USA Rare Earth during the 1st quarter worth about $4,114,000. Titleist Asset Management LLC acquired a new position in shares of USA Rare Earth during the 1st quarter worth about $145,000. MMCAP International Inc. SPC bought a new stake in USA Rare Earth during the 2nd quarter valued at approximately $261,000. Finally, International Assets Investment Management LLC acquired a new stake in USA Rare Earth in the 2nd quarter valued at approximately $250,000.

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.