USA Rare Earth (NASDAQ:USAR) Stock Price Down 4.3% – Here’s Why

USA Rare Earth Inc. (NASDAQ:USAR) fell 4.3% during trading on Monday. The company traded as low as $10.06 and last traded at $10.09. Approximately 10,304,585 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 16,004,741 shares. The stock had previously closed at $10.54.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Needham & Company LLC decreased their price target on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of USA Rare Earth in a research note on Tuesday, August 11th. 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 note on Tuesday, July 21st. Jefferies Financial Group assumed coverage on shares of USA Rare Earth in a report on Wednesday, September 2nd. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Weiss Ratings lowered shares of USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $33.71.

USA Rare Earth Stock Down 4.3%

The stock has a market cap of $2.47 billion, a PE ratio of -4.15 and a beta of 2.66. The stock has a 50-day moving average of $16.03 and a 200 day moving average of $19.11.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The business had revenue of $5.82 million during the quarter. Research analysts forecast that USA Rare Earth Inc. will post -0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of USAR. IFP Advisors Inc boosted its position in shares of USA Rare Earth by 26.0% during the 3rd quarter. IFP Advisors Inc now owns 85,578 shares of the company’s stock valued at $1,205,000 after acquiring an additional 17,682 shares during the last quarter. Gunderson Capital Management LLC purchased a new stake in shares of USA Rare Earth in the third quarter valued at about $147,000. GAMMA Investing LLC grew its holdings in shares of USA Rare Earth by 55.2% in the third quarter. GAMMA Investing LLC now owns 5,738 shares of the company’s stock valued at $81,000 after purchasing an additional 2,042 shares during the period. Overbrook Management Corp acquired a new stake in USA Rare Earth during the third quarter worth about $3,145,000. Finally, Farther Finance Advisors LLC increased its position in USA Rare Earth by 41.7% during the third quarter. Farther Finance Advisors LLC now owns 18,829 shares of the company’s stock worth $265,000 after purchasing an additional 5,540 shares during the last quarter.

About USA Rare Earth

USA Rare Earth, Inc is a U.S.-based critical minerals company focused on developing a domestic, vertically integrated supply chain for rare earth elements and rare earth permanent magnets. The company’s activities span the planned mining and processing of rare earth materials and the manufacture of neodymium-iron-boron (NdFeB) magnets, which are used in electric vehicles, renewable energy systems, electronics, aerospace and defense applications.

The company’s principal resource project is the Round Top rare earth and critical minerals project in Hudspeth County, Texas.