Critical Metals (NASDAQ:CRML) Trading Up 6.8% – Still a Buy?

Critical Metals Corp. (NASDAQ:CRML)’s share price shot up 6.8% on Wednesday . The stock traded as high as $6.80 and last traded at $6.7830. 1,353,976 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 13,093,500 shares. The stock had previously closed at $6.35.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CRML shares. Texas Capital upgraded Critical Metals to a “strong-buy” rating in a report on Thursday, April 16th. Cantor Fitzgerald assumed coverage on Critical Metals in a research note on Tuesday, July 14th. They set a “speculative buy” rating and a $18.00 target price on the stock. Finally, Weiss Ratings raised Critical Metals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $18.00.

Critical Metals Stock Up 8.3%

The firm’s 50 day simple moving average is $9.78 and its two-hundred day simple moving average is $10.73.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CRML. National Bank of Canada FI bought a new stake in shares of Critical Metals in the third quarter valued at approximately $25,000. Sunbelt Securities Inc. acquired a new stake in Critical Metals during the fourth quarter worth approximately $28,000. Royal Bank of Canada increased its stake in Critical Metals by 899.0% during the 4th quarter. Royal Bank of Canada now owns 4,945 shares of the company’s stock worth $35,000 after acquiring an additional 4,450 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in Critical Metals during the 2nd quarter worth $37,000. Finally, BNP Paribas Financial Markets raised its holdings in Critical Metals by 95.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,401 shares of the company’s stock valued at $40,000 after acquiring an additional 3,134 shares in the last quarter. 86.44% of the stock is 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.