Critical Metals (NASDAQ:CRML) Stock Price Up 7.1% – Here’s Why

Critical Metals Corp. (NASDAQ:CRML) rose 7.1% on Friday . The company traded as high as $11.00 and last traded at $10.78. Approximately 11,894,197 shares were traded during mid-day trading, an increase of 73% from the average daily volume of 6,864,189 shares. The stock had previously closed at $10.07.

Analyst Ratings Changes

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

Critical Metals Stock Up 7.1%

The business’s 50 day simple moving average is $10.75 and its 200 day simple moving average is $5.76. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13.

Hedge Funds Weigh In On Critical Metals

Several institutional investors and hedge funds have recently modified their holdings of CRML. Canton Hathaway LLC acquired a new stake in shares of Critical Metals in the second quarter worth $308,000. CWM LLC boosted its holdings in Critical Metals by 456.6% in the 2nd quarter. CWM LLC now owns 31,284 shares of the company’s stock valued at $112,000 after purchasing an additional 25,663 shares during the period. Abacus Wealth Partners LLC bought a new stake in Critical Metals in the 2nd quarter valued at $179,000. Alps Advisors Inc. grew its position in Critical Metals by 139.8% in the 1st quarter. Alps Advisors Inc. now owns 36,799 shares of the company’s stock worth $51,000 after purchasing an additional 21,451 shares during the last quarter. Finally, Fifth Third Bancorp bought a new position in shares of Critical Metals during the 2nd quarter worth about $358,000. 86.44% of the stock is currently owned by hedge funds and other institutional investors.

Critical Metals Company Profile

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.