Critical Metals (NASDAQ:CRML) Shares Down 4.4% – Time to Sell?

Critical Metals Corp. (NASDAQ:CRML) shares dropped 4.4% on Monday. The company traded as low as $6.75 and last traded at $6.6650. Approximately 817,566 shares traded hands during trading, a decline of 93% from the average daily volume of 11,488,849 shares. The stock had previously closed at $6.97.

Analyst Ratings Changes

CRML has been the subject of a number of research reports. Wall Street Zen lowered shares of Critical Metals from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 3rd. Freedom Capital cut Critical Metals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded shares of Critical Metals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 28th. Cantor Fitzgerald began coverage on Critical Metals in a research note on Tuesday, July 14th. They set a “speculative buy” rating and a $18.00 price target on the stock. Finally, UBS Group set a $20.00 price objective on shares of Critical Metals in a report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Critical Metals Price Performance

The stock has a 50-day moving average price of $7.09 and a 200 day moving average price of $8.66. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87.

Hedge Funds Weigh In On Critical Metals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vontobel Holding Ltd. purchased a new position in Critical Metals in the 3rd quarter valued at $86,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Critical Metals in the 2nd quarter valued at approximately $29,000. Allworth Financial LP increased its stake in Critical Metals by 53.4% during the second quarter. Allworth Financial LP now owns 5,055 shares of the company’s stock worth $52,000 after acquiring an additional 1,760 shares during the last quarter. Corient Private Wealth LP raised its holdings in Critical Metals by 153.9% in the 2nd quarter. Corient Private Wealth LP now owns 136,618 shares of the company’s stock valued at $1,400,000 after buying an additional 82,815 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Critical Metals by 327.5% in the 1st quarter. Bank of America Corp DE now owns 229,907 shares of the company’s stock worth $1,825,000 after acquiring an additional 176,123 shares during the last quarter. Hedge funds and other institutional investors own 86.44% of the company’s stock.

About Critical Metals

Critical Metals Corp. (NASDAQ: CRML) is a mining and development company focused on advancing projects that supply critical minerals used in energy, technology and industrial applications. The company’s portfolio is centered on lithium and rare earth elements, which are important inputs for electric vehicles, batteries, renewable energy systems and advanced manufacturing.

Its flagship asset is the Wolfsberg Lithium Project in Austria. Critical Metals is developing the project as an integrated European lithium operation, with plans covering the production of lithium-related materials for the battery supply chain.