Critical Metals (NASDAQ:CRML) Stock Price Down 4.8% – Here’s Why

Shares of Critical Metals Corp. (NASDAQ:CRML) dropped 4.8% during mid-day trading on Monday . The stock traded as low as $6.07 and last traded at $6.0930. 1,342,235 shares were traded during trading, a decline of 90% from the average daily volume of 13,188,410 shares. The stock had previously closed at $6.40.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings upgraded Critical Metals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 19th. Cantor Fitzgerald initiated coverage on Critical Metals in a research report on Tuesday, July 14th. They set a “speculative buy” rating and a $18.00 price objective for the company. Finally, Texas Capital upgraded shares of Critical Metals to a “strong-buy” rating in a report on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $18.00.

Critical Metals Stock Down 4.3%

The firm’s fifty day moving average price is $10.00 and its 200 day moving average price is $10.74.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Alyeska Investment Group L.P. purchased a new position in shares of Critical Metals during the fourth quarter worth $27,130,000. UBS Group AG raised its holdings in shares of Critical Metals by 610.9% in the 4th quarter. UBS Group AG now owns 2,196,037 shares of the company’s stock valued at $15,240,000 after buying an additional 1,887,125 shares during the period. Nuveen LLC lifted its stake in Critical Metals by 37.0% during the 4th quarter. Nuveen LLC now owns 713,066 shares of the company’s stock worth $4,949,000 after acquiring an additional 192,588 shares in the last quarter. State Street Corp boosted its holdings in Critical Metals by 57.9% during the 4th quarter. State Street Corp now owns 696,550 shares of the company’s stock valued at $4,834,000 after acquiring an additional 255,499 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Critical Metals by 38.9% during the 4th quarter. Geode Capital Management LLC now owns 634,706 shares of the company’s stock valued at $4,405,000 after acquiring an additional 177,909 shares during the period. 86.44% of the stock is currently owned by hedge funds and other institutional investors.

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.