Critical Metals (NASDAQ:CRML) Shares Up 9.4% – Still a Buy?

Critical Metals Corp. (NASDAQ:CRML)’s share price shot up 9.4% on Friday . The company traded as high as $17.62 and last traded at $16.10. 15,201,701 shares changed hands during mid-day trading, an increase of 226% from the average session volume of 4,661,639 shares. The stock had previously closed at $14.71.

Analyst Ratings Changes

CRML has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Critical Metals in a research note on Wednesday. Wall Street Zen cut shares of Critical Metals from a “hold” rating to a “sell” rating in a research note on Saturday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Critical Metals Price Performance

The business’s 50 day simple moving average is $6.71 and its 200 day simple moving average is $3.82.

Institutional Trading of Critical Metals

A number of hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its stake in shares of Critical Metals by 121.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,258 shares of the company’s stock worth $47,000 after buying an additional 7,280 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Critical Metals during the 2nd quarter worth about $33,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Critical Metals during the 2nd quarter worth about $37,000. Pallas Capital Advisors LLC acquired a new stake in shares of Critical Metals during the 2nd quarter worth about $45,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Critical Metals by 288.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,592 shares of the company’s stock worth $63,000 after buying an additional 13,061 shares during the last quarter. Institutional investors and hedge funds own 86.44% of the company’s stock.

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.