USA Rare Earth (NASDAQ:USAR) Trading Down 6.2% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR) shares traded down 6.2% on Thursday . The company traded as low as $15.74 and last traded at $15.82. 14,159,231 shares were traded during trading, an increase of 166% from the average session volume of 5,326,864 shares. The stock had previously closed at $16.87.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wall Street Zen lowered shares of USA Rare Earth from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Cantor Fitzgerald assumed coverage on shares of USA Rare Earth in a research report on Friday, August 1st. They set an “overweight” rating and a $16.00 target price on the stock. Roth Capital set a $40.00 target price on shares of USA Rare Earth in a research report on Friday, October 10th. William Blair assumed coverage on shares of USA Rare Earth in a research report on Monday, October 20th. They set an “outperform” rating on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of USA Rare Earth in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.00.

USA Rare Earth Trading Down 6.2%

The company has a market cap of $1.80 billion, a PE ratio of -58.59 and a beta of 0.77. The firm’s 50-day simple moving average is $20.57 and its two-hundred day simple moving average is $15.06.

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

Insiders Place Their Bets

In other USA Rare Earth 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 transaction of $32,946,621.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 46.60% of the company’s stock.

Institutional Investors Weigh In On USA Rare Earth

A number of large investors have recently modified their holdings of USAR. NewEdge Advisors LLC grew its holdings in shares of USA Rare Earth by 158.2% during the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after buying an additional 1,424 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of USA Rare Earth by 10,448.0% during the second quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company’s stock worth $29,000 after buying an additional 2,612 shares in the last quarter. Osaic Holdings Inc. purchased a new stake in shares of USA Rare Earth during the second quarter worth $38,000. KLP Kapitalforvaltning AS purchased a new stake in shares of USA Rare Earth during the third quarter worth $69,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of USA Rare Earth by 2,204.3% during the third quarter. Jones Financial Companies Lllp now owns 8,065 shares of the company’s stock worth $140,000 after buying an additional 7,715 shares in the last quarter.

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.