USA Rare Earth (NASDAQ:USAR) Trading Down 4.8% – Time to Sell?

USA Rare Earth Inc. (NASDAQ:USAR)’s share price fell 4.8% on Wednesday . The company traded as low as $16.43 and last traded at $16.92. 9,176,618 shares were traded during mid-day trading, an increase of 69% from the average session volume of 5,437,626 shares. The stock had previously closed at $17.77.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on USAR. Weiss Ratings restated a “sell (d-)” rating on shares of USA Rare Earth in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of USA Rare Earth from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Roth Capital set a $40.00 price objective on shares of USA Rare Earth in a research note on Friday, October 10th. Canaccord Genuity Group boosted their price objective on shares of USA Rare Earth from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, William Blair started coverage on USA Rare Earth in a research report on Monday, October 20th. They issued an “outperform” rating on the stock. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.33.

USA Rare Earth Trading Down 4.8%

The stock has a market cap of $1.93 billion, a PE ratio of -32.54 and a beta of 0.77. The business has a 50-day moving average price of $20.75 and a 200-day moving average price of $15.24.

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

Hedge Funds Weigh In On USA Rare Earth

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