USA Rare Earth (NASDAQ:USAR) Stock Price Down 3.1% – Here’s What Happened

by · The Cerbat Gem

USA Rare Earth Inc. (NASDAQ:USAR – Get Free Report) was down 3.1% during mid-day trading on Friday. The stock traded as low as $9.26 and last traded at $9.33. 9,510,647 shares traded hands during trading, a decline of 40% from the average daily volume of 15,881,117 shares. The stock had previously closed at $9.63.

Wall Street Analyst Weigh In

Several research firms have weighed in on USAR. Weiss Ratings cut shares of USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Needham & Company LLC reduced their target price on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Texas Capital raised shares of USA Rare Earth to a “strong-buy” rating in a research note on Tuesday. Cantor Fitzgerald reissued an “overweight” rating on shares of USA Rare Earth in a report on Tuesday, August 11th. Finally, Roth Capital dropped their price objective on shares of USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $33.71.

Check Out Our Latest Stock Analysis on USA Rare Earth

USA Rare Earth Price Performance

The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -3.84 and a beta of 2.66. The firm has a 50 day simple moving average of $15.33 and a two-hundred day simple moving average of $18.96.

USA Rare Earth (NASDAQ:USAR – Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The firm had revenue of $5.82 million during the quarter. On average, sell-side analysts expect that USA Rare Earth Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Trading of USA Rare Earth

A number of large investors have recently made changes to their positions in USAR. Allworth Financial LP acquired a new stake in USA Rare Earth during the 2nd quarter worth $38,000. Ascentis Independent Advisors acquired a new position in USA Rare Earth in the first quarter valued at about $27,000. Ameritas Advisory Services LLC increased its holdings in shares of USA Rare Earth by 276.3% in the second quarter. Ameritas Advisory Services LLC now owns 1,987 shares of the company’s stock worth $43,000 after acquiring an additional 1,459 shares in the last quarter. First PREMIER Bank increased its holdings in shares of USA Rare Earth by 100.0% in the second quarter. First PREMIER Bank now owns 2,000 shares of the company’s stock worth $43,000 after acquiring an additional 1,000 shares in the last quarter. Finally, MCF Advisors LLC bought a new stake in shares of USA Rare Earth in the second quarter worth about $43,000.

USA Rare Earth Company Profile

(Get Free Report)

USA Rare Earth, Inc (NASDAQ:USAR) is developing an integrated domestic supply chain for rare earth and other critical minerals. The company’s activities include the exploration and planned extraction of mineral resources, processing and separation of rare earth elements, and the production of sintered neodymium-iron-boron (NdFeB) permanent magnets used in electric vehicles, wind turbines, defense systems, electronics and other advanced technologies.

The company’s flagship asset is the Round Top Mountain project in Hudspeth County, Texas.

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