Critical Metals (NASDAQ:CRML) Trading Up 8.1% – Here’s Why

Shares of Critical Metals Corp. (NASDAQ:CRML) shot up 8.1% on Wednesday . The stock traded as high as $10.23 and last traded at $10.3350. 976,267 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 14,638,548 shares. The stock had previously closed at $9.56.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRML. Weiss Ratings upgraded Critical Metals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 19th. Texas Capital upgraded Critical Metals to a “strong-buy” rating in a research note on Thursday, April 16th. Finally, Freedom Capital upgraded Critical Metals to a “strong-buy” rating in a research note on Tuesday, March 10th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Critical Metals Trading Up 8.2%

The stock has a 50-day moving average of $10.85 and a 200 day moving average of $10.64.

Institutional Investors Weigh In On Critical Metals

Large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. bought a new stake in Critical Metals during the 3rd quarter worth approximately $853,000. UBS Group AG grew its position in Critical Metals by 610.9% during the 4th quarter. UBS Group AG now owns 2,196,037 shares of the company’s stock worth $15,240,000 after acquiring an additional 1,887,125 shares during the last quarter. Empery Asset Management LP bought a new stake in Critical Metals during the 4th quarter worth approximately $3,411,000. Royal Bank of Canada grew its position in Critical Metals by 121.4% during the 1st quarter. Royal Bank of Canada now owns 10,947 shares of the company’s stock worth $87,000 after acquiring an additional 6,002 shares during the last quarter. Finally, Quantinno Capital Management LP bought a new stake in Critical Metals during the 1st quarter worth approximately $434,000. 86.44% of the stock is currently owned by institutional investors.

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.