Critical Metals Corp. (NASDAQ:CRML – Get Free Report) shares dropped 5.6% during mid-day trading on Tuesday. The stock traded as low as $6.44 and last traded at $6.4030. 1,740,409 shares were traded during trading, a decline of 85% from the average session volume of 11,231,132 shares. The stock had previously closed at $6.78.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on CRML. UBS Group set a $20.00 target price on shares of Critical Metals in a report on Monday, October 5th. Weiss Ratings raised shares of Critical Metals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 28th. Wall Street Zen lowered shares of Critical Metals from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 3rd. Freedom Capital cut shares of Critical Metals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Cantor Fitzgerald began coverage on shares of Critical Metals in a report on Tuesday, July 14th. They issued a “speculative buy” rating and a $18.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.00.
Get Our Latest Report on Critical Metals
Critical Metals Stock Down 12.2%
The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The firm’s 50 day simple moving average is $7.12 and its 200 day simple moving average is $9.16.
Insider Buying and Selling
In related news, CFO Sergey Savchenko sold 66,667 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $6.81, for a total value of $454,002.27. Following the sale, the chief financial officer directly owned 93,333 shares of the company’s stock, valued at $635,597.73. This represents a 41.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 65.70% of the company’s stock.
Hedge Funds Weigh In On Critical Metals
Large investors have recently bought and sold shares of the business. Alps Advisors Inc. grew its position in Critical Metals by 49.5% in the 3rd quarter. Alps Advisors Inc. now owns 594,268 shares of the company’s stock valued at $4,314,000 after acquiring an additional 196,731 shares during the last quarter. Bank of America Corp DE increased its stake in Critical Metals by 327.5% in the first quarter. Bank of America Corp DE now owns 229,907 shares of the company’s stock worth $1,825,000 after purchasing an additional 176,123 shares during the period. Corient Private Wealth LP lifted its position in shares of Critical Metals by 153.9% during the second quarter. Corient Private Wealth LP now owns 136,618 shares of the company’s stock worth $1,400,000 after purchasing an additional 82,815 shares during the last quarter. Verity Asset Management Inc. purchased a new stake in shares of Critical Metals during the third quarter valued at $559,000. Finally, Quantinno Capital Management LP bought a new position in shares of Critical Metals in the first quarter worth about $434,000. Hedge funds and other institutional investors own 86.44% of the company’s stock.
About Critical Metals
Critical Metals Corp. is a mineral development company focused on advancing projects that supply critical raw materials for the energy transition and other high-technology applications. Its principal asset is the Wolfsberg Lithium Project in Carinthia, Austria, which is designed to produce lithium hydroxide for use in electric-vehicle batteries and other battery applications.
The Wolfsberg project includes plans for an integrated operation combining underground mining, mineral processing and downstream lithium conversion.
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