Critical Metals (NASDAQ:CRML) Trading Down 4.8% – Here’s Why

Critical Metals Corp. (NASDAQ:CRML) shares fell 4.8% on Monday . The stock traded as low as $6.07 and last traded at $6.0930. Approximately 1,342,235 shares traded hands during trading, a decline of 90% from the average daily volume of 13,188,410 shares. The stock had previously closed at $6.40.

Wall Street Analysts Forecast Growth

CRML has been the subject of several recent research reports. Weiss Ratings raised shares of Critical Metals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 19th. Texas Capital upgraded shares of Critical Metals to a “strong-buy” rating in a report on Thursday, April 16th. Finally, Cantor Fitzgerald initiated coverage on shares of 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. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $18.00.

Critical Metals Stock Performance

The stock has a fifty day moving average price of $9.78 and a 200 day moving average price of $10.73.

Institutional Investors Weigh In On Critical Metals

Large investors have recently added to or reduced their stakes in the stock. UBS Group AG lifted its stake in shares of Critical Metals by 610.9% in the fourth quarter. UBS Group AG now owns 2,196,037 shares of the company’s stock worth $15,240,000 after buying an additional 1,887,125 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Critical Metals by 100.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 274,348 shares of the company’s stock worth $1,904,000 after buying an additional 137,174 shares during the period. Empery Asset Management LP acquired a new position in Critical Metals in the 4th quarter valued at $3,411,000. Hsbc Holdings PLC acquired a new position in Critical Metals in the 4th quarter valued at $76,000. Finally, AQR Capital Management LLC bought a new position in Critical Metals in the 1st quarter worth $69,000. Institutional investors own 86.44% of the company’s stock.

Critical Metals Company Profile

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.