USA Rare Earth (NASDAQ:USAR) Stock Price Down 4.4% – Here’s What Happened

Shares of USA Rare Earth Inc. (NASDAQ:USAR) fell 4.4% during trading on Wednesday . The stock traded as low as $16.46 and last traded at $16.74. 10,936,992 shares changed hands during trading, an increase of 89% from the average session volume of 5,783,384 shares. The stock had previously closed at $17.51.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on USAR shares. Canaccord Genuity Group boosted their price objective on shares of USA Rare Earth from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. UBS Group restated a “buy” rating on shares of USA Rare Earth in a report on Monday. William Blair started coverage on USA Rare Earth in a research note on Monday, October 20th. They issued an “outperform” rating on the stock. Benchmark reissued a “buy” rating on shares of USA Rare Earth in a research report on Monday. Finally, Wall Street Zen downgraded USA Rare Earth from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

USA Rare Earth Stock Down 4.4%

The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -32.19 and a beta of 0.91. The stock’s 50-day moving average price is $20.31 and its 200-day moving average price is $15.85.

USA Rare Earth (NASDAQ:USAR) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.19).

Institutional Trading of USA Rare Earth

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. raised its holdings in USA Rare Earth by 44.0% during the 3rd quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock worth $219,034,000 after purchasing an additional 3,909,455 shares during the last quarter. Altfest L J & Co. Inc. acquired a new stake in shares of USA Rare Earth during the 3rd quarter worth approximately $13,554,000. Newtyn Management LLC bought a new stake in shares of USA Rare Earth during the first quarter worth approximately $4,114,000. Geode Capital Management LLC raised its stake in shares of USA Rare Earth by 2,437.5% during the second quarter. Geode Capital Management LLC now owns 653,290 shares of the company’s stock worth $7,160,000 after buying an additional 627,545 shares during the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in USA Rare Earth in the third quarter valued at approximately $8,304,000.

USA Rare Earth Company Profile

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.