USA Rare Earth (NASDAQ:USAR) Stock Price Down 3.6% – Time to Sell?

USA Rare Earth Inc. (NASDAQ:USAR) shares were down 3.6% on Monday . The company traded as low as $18.81 and last traded at $19.29. Approximately 11,924,208 shares were traded during mid-day trading, a decline of 29% from the average session volume of 16,727,125 shares. The stock had previously closed at $20.00.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Canaccord Genuity Group boosted their price objective on shares of USA Rare Earth from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Roth Capital cut their target price on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of USA Rare Earth in a research report on Tuesday, August 11th. Weiss Ratings downgraded USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, Northland Securities started coverage on USA Rare Earth in a research note on Thursday, April 23rd. They set an “outperform” rating and a $45.00 price target for the company. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.83.

USA Rare Earth Stock Down 3.6%

The firm’s 50 day simple moving average is $18.86 and its 200-day simple moving average is $20.40. The company has a market capitalization of $4.30 billion, a PE ratio of -7.94 and a beta of 2.55.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The firm had revenue of $5.82 million for the quarter. As a group, sell-side analysts anticipate that USA Rare Earth Inc. will post -0.62 EPS for the current fiscal year.

Insider Transactions at USA Rare Earth

In related news, Director Carolyn Trabuco sold 13,000 shares of the stock in a transaction 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 completion of the sale, the director directly owned 18,783 shares in the company, valued at approximately $427,688.91. This represents a 40.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of USAR. Weiss Asset Management LP acquired a new stake in USA Rare Earth during the 1st quarter valued at $17,103,000. Jennison Associates LLC purchased a new stake in USA Rare Earth during the 4th quarter worth $1,586,000. Encompass Capital Advisors LLC acquired a new position in USA Rare Earth in the 1st quarter worth $7,038,000. Swiss National Bank lifted its holdings in USA Rare Earth by 67.6% in the 1st quarter. Swiss National Bank now owns 150,500 shares of the company’s stock worth $2,278,000 after buying an additional 60,700 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in USA Rare Earth by 150.9% in the 1st quarter. California State Teachers Retirement System now owns 116,048 shares of the company’s stock valued at $1,756,000 after buying an additional 69,787 shares during the last quarter.

About USA Rare Earth

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.