Critical Metals (NASDAQ:CRML) Trading Down 7.9% – Here’s What Happened

Shares of Critical Metals Corp. (NASDAQ:CRML) dropped 7.9% during mid-day trading on Wednesday . The stock traded as low as $16.23 and last traded at $15.8130. Approximately 15,213,407 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 28,095,682 shares. The stock had previously closed at $17.17.

Analysts Set New Price Targets

CRML has been the topic of several recent analyst reports. Wall Street Zen lowered Critical Metals from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Critical Metals in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Critical Metals Stock Down 13.3%

The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $9.80 and a two-hundred day moving average price of $8.68.

Hedge Funds Weigh In On Critical Metals

Several hedge funds have recently made changes to their positions in CRML. National Bank of Canada FI bought a new stake in shares of Critical Metals in the third quarter worth $25,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Critical Metals in the 2nd quarter valued at $33,000. B. Riley Wealth Advisors Inc. bought a new stake in Critical Metals during the 2nd quarter worth about $37,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Critical Metals during the 3rd quarter worth about $38,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Critical Metals by 95.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,401 shares of the company’s stock valued at $40,000 after acquiring an additional 3,134 shares in the last quarter. 86.44% of the stock is owned by institutional investors.

About Critical Metals

Critical Metals Corp. engages in the mining, exploration, and development of lithium metals. It owns Wolfsberg Project and Tanbreez Project. The company was founded on October 24, 2022 and is headquartered in British Virgin Islands.