Traders Purchase Large Volume of Critical Metals Call Options (NASDAQ:CRML)

Critical Metals Corp. (NASDAQ:CRML) was the recipient of some unusual options trading activity on Monday. Traders bought 29,046 call options on the company. This is an increase of 78% compared to the average volume of 16,331 call options.

Institutional Trading of Critical Metals

Hedge funds have recently modified their holdings of the business. Allworth Financial LP boosted its stake 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 buying an additional 1,760 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Critical Metals by 14.3% in the first quarter. The Manufacturers Life Insurance Company now owns 14,630 shares of the company’s stock worth $116,000 after acquiring an additional 1,829 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Critical Metals in the second quarter worth $29,000. Rockefeller Capital Management L.P. lifted its holdings in Critical Metals by 10.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 55,253 shares of the company’s stock valued at $383,000 after acquiring an additional 5,253 shares during the period. Finally, Royal Bank of Canada lifted its holdings in Critical Metals by 121.4% in the first quarter. Royal Bank of Canada now owns 10,947 shares of the company’s stock valued at $87,000 after acquiring an additional 6,002 shares during the period. 86.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Freedom Capital cut shares of Critical Metals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Wall Street Zen raised Critical Metals from a “strong sell” rating to a “sell” rating in a report on Saturday, September 12th. Weiss Ratings downgraded Critical Metals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 21st. Finally, Cantor Fitzgerald started coverage on Critical Metals in a research note on Tuesday, July 14th. They issued a “speculative buy” rating and a $18.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Critical Metals currently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Critical Metals Stock Up 40.4%

Critical Metals stock traded up $2.72 during mid-day trading on Monday, reaching $9.45. 26,576,836 shares of the company were exchanged, compared to its average volume of 11,781,245. The firm’s 50-day simple moving average is $6.71 and its two-hundred day simple moving average is $8.85. Critical Metals has a twelve month low of $5.11 and a twelve month high of $32.15.

About Critical Metals

Critical Metals Corp. is a mineral development company focused on advancing projects that supply critical raw materials for the electric vehicle, battery storage, renewable energy and technology industries. The company’s principal asset is the Wolfsberg Lithium Project in Carinthia, Austria, which is intended to produce battery-grade lithium hydroxide for European markets.

The Wolfsberg project includes planned mining, processing and refining operations designed to support an integrated European lithium supply chain.