USA Rare Earth (NASDAQ:USAR) Trading Down 3.4% – Should You Sell?

USA Rare Earth Inc. (NASDAQ:USAR)’s share price dropped 3.4% during mid-day trading on Tuesday . The stock traded as low as $15.73 and last traded at $16.34. Approximately 11,128,575 shares changed hands during trading, an increase of 112% from the average daily volume of 5,259,200 shares. The stock had previously closed at $16.91.

Analysts Set New Price Targets

USAR has been the topic of a number of recent analyst reports. Canaccord Genuity Group lifted their target price on USA Rare Earth from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of USA Rare Earth in a report on Wednesday, October 8th. Cantor Fitzgerald started coverage on shares of USA Rare Earth in a report on Friday, August 1st. They issued an “overweight” rating and a $16.00 price target on the stock. Roth Capital set a $40.00 price target on shares of USA Rare Earth in a report on Friday, October 10th. Finally, Wall Street Zen cut shares of USA Rare Earth from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.00.

USA Rare Earth Trading Down 3.4%

The business’s fifty day simple moving average is $20.54 and its 200-day simple moving average is $15.04. The firm has a market cap of $1.86 billion, a P/E ratio of -60.52 and a beta of 0.77.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.05.

Insider Transactions at USA Rare Earth

In related news, Director Michael Blitzer sold 2,091,849 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $15.75, for a total value of $32,946,621.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 46.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Altfest L J & Co. Inc. purchased a new position in USA Rare Earth in the third quarter worth $13,554,000. Newtyn Management LLC purchased a new position in USA Rare Earth in the first quarter worth $4,114,000. Geode Capital Management LLC lifted its stake in USA Rare Earth by 2,437.5% in the second 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 during the last quarter. Bank of America Corp DE lifted its stake in USA Rare Earth by 465.7% in the second quarter. Bank of America Corp DE now owns 242,726 shares of the company’s stock worth $2,659,000 after purchasing an additional 199,819 shares during the last quarter. Finally, Sovran Advisors LLC bought a new stake in USA Rare Earth in the third quarter worth $3,832,000.

USA Rare Earth Company Profile

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.