USA Rare Earth (NASDAQ:USAR) Trading Down 6.3% – Should You Sell?

USA Rare Earth Inc. (NASDAQ:USAR) shares dropped 6.3% on Wednesday . The company traded as low as $14.18 and last traded at $14.30. Approximately 10,237,160 shares traded hands during mid-day trading, an increase of 86% from the average daily volume of 5,504,692 shares. The stock had previously closed at $15.26.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Canaccord Genuity Group raised their price objective on USA Rare Earth from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of USA Rare Earth in a research note on Thursday, November 13th. Cantor Fitzgerald began coverage on shares of USA Rare Earth in a research report on Friday, August 1st. They issued an “overweight” rating and a $16.00 price objective on the stock. William Blair assumed coverage on shares of USA Rare Earth in a report on Monday, October 20th. They set an “outperform” rating for the company. Finally, Wall Street Zen cut shares of USA Rare Earth from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.33.

USA Rare Earth Price Performance

The firm has a market capitalization of $1.90 billion, a PE ratio of -27.50 and a beta of 0.77. The company has a 50-day moving average price of $20.89 and a 200-day moving average price of $15.38.

USA Rare Earth (NASDAQ:USAR) last announced 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 Trading of USA Rare Earth

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC boosted its holdings in shares of USA Rare Earth by 2.0% during the third quarter. Advisory Services Network LLC now owns 52,366 shares of the company’s stock worth $900,000 after purchasing an additional 1,032 shares during the last quarter. National Bank of Canada FI lifted its position in USA Rare Earth by 110.0% during the third quarter. National Bank of Canada FI now owns 2,100 shares of the company’s stock worth $36,000 after buying an additional 1,100 shares during the period. NewEdge Advisors LLC boosted its stake in USA Rare Earth by 158.2% in the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after buying an additional 1,424 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in USA Rare Earth by 73.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,586 shares of the company’s stock valued at $79,000 after buying an additional 1,949 shares during the period. Finally, Osaic Holdings Inc. purchased a new stake in USA Rare Earth in the 2nd quarter valued at about $38,000.

USA Rare Earth Company Profile

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.