Critical Metals (NASDAQ:CRML) Shares Down 5.2% – Here’s Why

Critical Metals Corp. (NASDAQ:CRML) shares dropped 5.2% during trading on Monday . The company traded as low as $9.63 and last traded at $9.5780. Approximately 1,298,024 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 6,818,804 shares. The stock had previously closed at $10.10.

Analyst Upgrades and Downgrades

CRML has been the topic of a number of research reports. Wall Street Zen lowered Critical Metals from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Critical Metals in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Critical Metals Price Performance

The company has a 50-day moving average of $11.73 and a 200-day moving average of $6.88. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16.

Institutional Trading of Critical Metals

Several institutional investors have recently added to or reduced their stakes in the stock. Linden Advisors LP acquired a new stake in Critical Metals during the 1st quarter valued at approximately $799,000. Geode Capital Management LLC lifted its position in shares of Critical Metals by 272.6% in the 2nd quarter. Geode Capital Management LLC now owns 455,006 shares of the company’s stock worth $1,629,000 after purchasing an additional 332,878 shares during the period. Creative Planning bought a new stake in shares of Critical Metals in the 3rd quarter valued at $1,952,000. FNY Investment Advisers LLC acquired a new stake in shares of Critical Metals during the second quarter worth $1,059,000. Finally, Vanguard Group Inc. increased its position in shares of Critical Metals by 40.0% during the third quarter. Vanguard Group Inc. now owns 291,104 shares of the company’s stock worth $1,811,000 after buying an additional 83,225 shares during the period. 86.44% of the stock is currently owned by institutional investors.

About Critical Metals

Critical Metals Corp. engages in the mining, exploration, and development of lithium metals. It owns Wolfsberg Project and Tanbreez Project. The company was founded on October 24, 2022 and is headquartered in British Virgin Islands.