Critical Metals (NASDAQ:CRML) Stock Price Up 6.6% – Here’s Why

Shares of Critical Metals Corp. (NASDAQ:CRML) shot up 6.6% during trading on Thursday . The company traded as high as $8.14 and last traded at $8.2330. Approximately 3,006,937 shares were traded during mid-day trading, a decline of 75% from the average session volume of 11,987,544 shares. The stock had previously closed at $7.72.

Analysts Set New Price Targets

Several brokerages have commented on CRML. Wall Street Zen raised shares of Critical Metals from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 12th. Weiss Ratings lowered shares of Critical Metals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 21st. Cantor Fitzgerald began coverage on shares of Critical Metals in a research report on Tuesday, July 14th. They issued a “speculative buy” rating and a $18.00 price objective for the company. Finally, Freedom Capital downgraded Critical Metals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Critical Metals presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Critical Metals Stock Up 8.5%

The stock’s 50 day simple moving average is $6.77 and its two-hundred day simple moving average is $8.82.

Hedge Funds Weigh In On Critical Metals

Large investors have recently added to or reduced their stakes in the company. Empery Asset Management LP acquired a new stake in shares of Critical Metals in the 4th quarter valued at about $3,411,000. Bank of America Corp DE boosted its position in shares of Critical Metals by 327.5% during the first quarter. Bank of America Corp DE now owns 229,907 shares of the company’s stock worth $1,825,000 after buying an additional 176,123 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Critical Metals by 100.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 274,348 shares of the company’s stock worth $1,904,000 after buying an additional 137,174 shares in the last quarter. Corient Private Wealth LP grew its holdings in shares of Critical Metals by 153.9% during the second quarter. Corient Private Wealth LP now owns 136,618 shares of the company’s stock worth $1,400,000 after buying an additional 82,815 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in Critical Metals in the 1st quarter valued at approximately $434,000. Institutional investors own 86.44% of the company’s stock.

About Critical Metals

Critical Metals Corp. is a mineral development company focused on advancing projects that supply critical raw materials for the electric vehicle, battery storage, renewable energy and technology industries. The company’s principal asset is the Wolfsberg Lithium Project in Carinthia, Austria, which is intended to produce battery-grade lithium hydroxide for European markets.

The Wolfsberg project includes planned mining, processing and refining operations designed to support an integrated European lithium supply chain.