USA Rare Earth (NASDAQ:USAR) Stock Price Up 2.8% – Here’s What Happened

by · The Cerbat Gem

USA Rare Earth Inc. (NASDAQ:USAR – Get Free Report) was up 2.8% during trading on Wednesday . The company traded as high as $14.25 and last traded at $14.02. Approximately 6,902,908 shares were traded during trading, an increase of 23% from the average daily volume of 5,620,716 shares. The stock had previously closed at $13.64.

Wall Street Analysts Forecast Growth

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

Get Our Latest Research Report on USAR

USA Rare Earth Stock Performance

The business has a 50-day moving average price of $20.31 and a 200-day moving average price of $15.65.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. IFP Advisors Inc acquired a new position in USA Rare Earth in the 3rd quarter valued at about $214,000. Advisory Services Network LLC grew its stake in shares of USA Rare Earth by 2.0% in the 3rd quarter. Advisory Services Network LLC now owns 52,366 shares of the company’s stock valued at $900,000 after purchasing an additional 1,032 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of USA Rare Earth in the third quarter valued at approximately $686,000. Alyeska Investment Group L.P. raised its stake in shares of USA Rare Earth by 44.0% during the third quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock worth $219,034,000 after purchasing an additional 3,909,455 shares during the last quarter. Finally, Voleon Capital Management LP purchased a new stake in shares of USA Rare Earth during the third quarter worth approximately $814,000.

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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