USA Rare Earth (NASDAQ:USAR) Stock Price Up 24.7% – Here’s What Happened

by · The Markets Daily

USA Rare Earth Inc. (NASDAQ:USAR – Get Free Report) shot up 24.7% on Thursday . The stock traded as high as $17.73 and last traded at $17.48. 22,926,335 shares changed hands during trading, an increase of 302% from the average session volume of 5,696,256 shares. The stock had previously closed at $14.02.

Wall Street Analyst Weigh In

USAR has been the subject of a number of analyst reports. Wall Street Zen cut USA Rare Earth from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Weiss Ratings reissued a “sell (d)” rating on shares of USA Rare Earth in a report on Monday. Roth Capital set a $40.00 price target on shares of USA Rare Earth in a report on Friday, October 10th. Canaccord Genuity Group increased 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. Finally, William Blair assumed coverage on shares of USA Rare Earth in a research note on Monday, October 20th. They set an “outperform” rating on the stock. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, USA Rare Earth currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

Get Our Latest Report on USAR

USA Rare Earth Stock Up 24.7%

The business’s fifty day moving average is $20.32 and its two-hundred day moving average is $15.58. The stock has a market capitalization of $2.32 billion, a PE ratio of -33.62 and a beta of 0.91.

USA Rare Earth (NASDAQ:USAR – Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.19).

Institutional Investors Weigh In On USA Rare Earth

Large investors have recently added to or reduced their stakes in the stock. Titleist Asset Management LLC bought a new position in USA Rare Earth during the 1st quarter worth about $145,000. Newtyn Management LLC purchased a new stake in shares of USA Rare Earth in the 1st quarter worth approximately $4,114,000. International Assets Investment Management LLC bought a new position in shares of USA Rare Earth during the second quarter valued at approximately $250,000. MMCAP International Inc. SPC purchased a new position in USA Rare Earth during the second quarter valued at approximately $261,000. Finally, Pier 88 Investment Partners LLC purchased a new stake in shares of USA Rare Earth during the 2nd quarter worth $588,000.

About USA Rare Earth

(Get Free Report)

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.

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