USA Rare Earth (NASDAQ:USAR) Shares Down 6.3% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR) shares traded down 6.3% during trading on Wednesday . The company traded as low as $14.18 and last traded at $14.30. 10,237,160 shares traded hands during trading, an increase of 86% from the average session volume of 5,504,692 shares. The stock had previously closed at $15.26.

Analyst Upgrades and Downgrades

USAR has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of USA Rare Earth in a report on Wednesday. Canaccord Genuity Group boosted their price target on shares of USA Rare Earth from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Roth Capital set a $40.00 price objective on shares of USA Rare Earth in a report on Friday, October 10th. William Blair initiated coverage on shares of USA Rare Earth in a research note on Monday, October 20th. They set an “outperform” rating on the stock. Finally, Cantor Fitzgerald initiated coverage on USA Rare Earth in a research report on Friday, August 1st. They issued an “overweight” rating and a $16.00 target price for the company. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $26.33.

USA Rare Earth Stock Performance

The company’s 50-day moving average price is $20.81 and its two-hundred day moving average price is $15.36.

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

Institutional Investors Weigh In On USA Rare Earth

Institutional investors and hedge funds have recently modified their holdings of the stock. Pier 88 Investment Partners LLC acquired a new stake in shares of USA Rare Earth during the second quarter worth $588,000. Newtyn Management LLC acquired a new stake in USA Rare Earth during the 1st quarter worth about $4,114,000. Titleist Asset Management LLC acquired a new stake in USA Rare Earth during the 1st quarter worth about $145,000. MMCAP International Inc. SPC purchased a new stake in USA Rare Earth during the second quarter valued at about $261,000. Finally, International Assets Investment Management LLC acquired a new position in shares of USA Rare Earth in the second quarter worth about $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.