USA Rare Earth (NASDAQ:USAR) Trading Down 6.8% – Should You Sell?

USA Rare Earth Inc. (NASDAQ:USAR) dropped 6.8% on Tuesday . The company traded as low as $10.18 and last traded at $10.22. Approximately 485,564 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 1,222,222 shares. The stock had previously closed at $10.96.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wall Street Zen raised USA Rare Earth to a “sell” rating in a report on Saturday, June 14th. Roth Capital reiterated a “buy” rating on shares of USA Rare Earth in a research report on Friday, June 13th. Finally, Canaccord Genuity Group initiated coverage on USA Rare Earth in a report on Friday, June 13th. They issued a “buy” rating and a $17.00 price objective for the company.

USA Rare Earth Stock Down 3.4%

The company’s fifty day moving average is $10.86.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.19) EPS for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in USA Rare Earth stock. Titleist Asset Management LLC bought a new stake in USA Rare Earth Inc. (NASDAQ:USAR) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,450 shares of the company’s stock, valued at approximately $145,000.

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.