USA Rare Earth (NASDAQ:USAR) Trading Down 6.4% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR)’s share price traded down 6.4% on Monday . The company traded as low as $12.51 and last traded at $12.59. 7,876,906 shares traded hands during mid-day trading, an increase of 41% from the average session volume of 5,598,018 shares. The stock had previously closed at $13.45.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on USAR shares. Wall Street Zen downgraded USA Rare Earth from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. William Blair initiated coverage on USA Rare Earth in a research note on Monday, October 20th. They set an “outperform” rating on the stock. Roth Capital set a $40.00 price objective on shares of USA Rare Earth in a report on Friday, October 10th. Canaccord Genuity Group lifted their target price 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. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of USA Rare Earth in a research report on Tuesday, November 25th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.33.

USA Rare Earth Stock Down 6.4%

The stock has a 50-day moving average of $20.53 and a 200 day moving average of $15.54. The stock has a market cap of $1.67 billion, a PE ratio of -24.21 and a beta of 0.92.

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

Institutional Investors Weigh In On USA Rare Earth

Several hedge funds and other institutional investors have recently added to or reduced their stakes in USAR. Titleist Asset Management LLC purchased a new position in shares of USA Rare Earth during the 1st quarter valued at about $145,000. Newtyn Management LLC acquired a new stake in USA Rare Earth during the first quarter worth about $4,114,000. International Assets Investment Management LLC purchased a new position in USA Rare Earth during the second quarter valued at approximately $250,000. MMCAP International Inc. SPC acquired a new position in USA Rare Earth in the second quarter valued at approximately $261,000. Finally, Pier 88 Investment Partners LLC acquired a new position in USA Rare Earth in the second quarter valued at approximately $588,000.

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.