Critical Metals (NASDAQ:CRML) Shares Down 8.8% – Here’s Why

Critical Metals Corp. (NASDAQ:CRML)’s stock price dropped 8.8% during mid-day trading on Tuesday . The company traded as low as $16.20 and last traded at $16.6820. Approximately 9,525,441 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 31,182,371 shares. The stock had previously closed at $18.30.

Wall Street Analyst Weigh In

CRML has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Critical Metals in a research report on Wednesday, January 21st. Wall Street Zen lowered Critical Metals from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Critical Metals Price Performance

The stock’s fifty day simple moving average is $11.05 and its 200-day simple moving average is $9.30. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CRML. UBS Group AG boosted its position in shares of Critical Metals by 610.9% in the fourth quarter. UBS Group AG now owns 2,196,037 shares of the company’s stock valued at $15,240,000 after acquiring an additional 1,887,125 shares during the period. Geode Capital Management LLC raised its stake in Critical Metals by 272.6% during the 2nd quarter. Geode Capital Management LLC now owns 455,006 shares of the company’s stock valued at $1,629,000 after purchasing an additional 332,878 shares during the last quarter. Creative Planning bought a new stake in Critical Metals in the 3rd quarter valued at $1,952,000. FNY Investment Advisers LLC acquired a new stake in Critical Metals in the 2nd quarter worth $1,059,000. Finally, Shay Capital LLC bought a new position in shares of Critical Metals during the 2nd quarter worth about $984,000. 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.