USA Rare Earth (NASDAQ:USAR) Shares Down 1.6% – Here’s What Happened

USA Rare Earth Inc. (NASDAQ:USAR) traded down 1.6% on Friday . The stock traded as low as $15.12 and last traded at $15.65. 9,774,773 shares changed hands during trading, a decline of 44% from the average session volume of 17,441,457 shares. The stock had previously closed at $15.91.

Analyst Upgrades and Downgrades

USAR has been the subject of a number of recent research reports. Weiss Ratings raised USA Rare Earth from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, May 14th. Roth Capital restated a “buy” rating on shares of USA Rare Earth in a report on Thursday, June 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of USA Rare Earth in a research note on Thursday, June 4th. Northland Securities initiated coverage on shares of USA Rare Earth in a report on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 price objective for the company. Finally, Needham & Company LLC began coverage on shares of USA Rare Earth in a research report on Monday, June 1st. They set a “buy” rating and a $39.00 target price on the stock. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.83.

USA Rare Earth Price Performance

The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of -3.99 and a beta of 2.45. The stock has a fifty day moving average of $22.76 and a two-hundred day moving average of $20.54.

USA Rare Earth (NASDAQ:USAR) last announced its earnings results on Wednesday, May 13th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.04. The company had revenue of $5.70 million for the quarter. On average, research analysts forecast that USA Rare Earth Inc. will post -0.35 EPS for the current year.

Insider Activity

In related news, Director Carolyn Trabuco sold 13,000 shares of USA Rare Earth stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $22.77, for a total value of $296,010.00. Following the transaction, the director directly owned 18,783 shares of the company’s stock, valued at $427,688.91. The trade was a 40.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.10% of the stock is owned by company insiders.

Institutional Trading of USA Rare Earth

A number of institutional investors and hedge funds have recently added to or reduced their stakes in USAR. Larson Financial Group LLC raised its holdings in USA Rare Earth by 217.5% during the 4th quarter. Larson Financial Group LLC now owns 2,092 shares of the company’s stock worth $25,000 after purchasing an additional 1,433 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of USA Rare Earth by 158.2% in the 2nd quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock valued at $25,000 after purchasing an additional 1,424 shares during the last quarter. Ascentis Independent Advisors bought a new stake in shares of USA Rare Earth in the 1st quarter valued at $27,000. Center for Financial Planning Inc. acquired a new stake in shares of USA Rare Earth during the fourth quarter worth $28,000. Finally, Havemeyer Place LP acquired a new stake in shares of USA Rare Earth during the fourth quarter worth $33,000.

USA Rare Earth Company Profile

USA Rare Earth (NASDAQ: USAR) is a development-stage critical minerals company focused on advancing a fully integrated rare earth element (REE) and lithium project in the United States. Its flagship asset is the Round Top deposit in West Texas, a large, polymetallic concentration of light and heavy rare earth elements, lithium and other co-products. The company seeks to move this asset through resource delineation, pilot-scale processing and eventual commercial production to address growing domestic demand for secure REE supply chains.

In addition to exploration, USA Rare Earth is engineering an on-site separation facility that will utilize dry magnetic separation and hydrometallurgical flowsheets to produce mixed rare earth carbonates.