Critical Metals (NASDAQ:CRML) Shares Climb 10% – Here’s What Happened

Shares of Critical Metals Corp. (NASDAQ:CRML) were up 10% during trading on Tuesday. The stock traded as high as $7.02 and last traded at $7.0150. 2,751,869 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 11,298,646 shares. The stock had previously closed at $6.38.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CRML shares. Freedom Capital lowered shares of Critical Metals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. UBS Group set a $20.00 price objective on Critical Metals in a research report on Monday, October 5th. Weiss Ratings upgraded Critical Metals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 28th. Wall Street Zen downgraded shares of Critical Metals from a “sell” rating to a “strong sell” rating in a report on Saturday, October 3rd. Finally, Cantor Fitzgerald assumed coverage on Critical Metals in a report on Tuesday, July 14th. They set a “speculative buy” rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Critical Metals has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Critical Metals Trading Up 10.3%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 0.87. The company’s 50 day moving average price is $7.04 and its 200 day moving average price is $9.44.

Institutional Trading of Critical Metals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC increased its stake in Critical Metals by 32.9% in the 3rd quarter. Signaturefd LLC now owns 11,847 shares of the company’s stock valued at $86,000 after buying an additional 2,933 shares during the last quarter. Canton Hathaway LLC boosted its stake in shares of Critical Metals by 75.0% during the 3rd quarter. Canton Hathaway LLC now owns 35,000 shares of the company’s stock worth $254,000 after acquiring an additional 15,000 shares during the period. Vontobel Holding Ltd. bought a new stake in Critical Metals in the 3rd quarter valued at $86,000. Integrated Wealth Concepts LLC acquired a new stake in Critical Metals during the 2nd quarter valued at $29,000. Finally, Allworth Financial LP raised its position in shares of Critical Metals by 53.4% in the second quarter. Allworth Financial LP now owns 5,055 shares of the company’s stock valued at $52,000 after purchasing an additional 1,760 shares during the period. Institutional investors and hedge funds own 86.44% of the company’s stock.

Critical Metals Company Profile

Critical Metals Corp. is a mineral development company focused on advancing projects that supply critical raw materials for the energy transition and other high-technology applications. Its principal asset is the Wolfsberg Lithium Project in Carinthia, Austria, which is designed to produce lithium hydroxide for use in electric-vehicle batteries and other battery applications.

The Wolfsberg project includes plans for an integrated operation combining underground mining, mineral processing and downstream lithium conversion.