Critical Metals (NASDAQ:CRML) Shares Down 5.6% – Here’s Why

Critical Metals Corp. (NASDAQ:CRML) dropped 5.6% during mid-day trading on Tuesday. The company traded as low as $6.44 and last traded at $6.4030. 1,740,409 shares were traded during trading, a decline of 85% from the average session volume of 11,231,132 shares. The stock had previously closed at $6.78.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald initiated coverage on shares of Critical Metals in a research report on Tuesday, July 14th. They set a “speculative buy” rating and a $18.00 price objective for the company. Wall Street Zen cut shares of Critical Metals from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 3rd. Freedom Capital cut shares of Critical Metals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings upgraded shares of Critical Metals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 28th. Finally, UBS Group set a $20.00 target price on shares of Critical Metals in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Critical Metals Trading Down 6.6%

The company has a 50 day moving average of $7.16 and a 200-day moving average of $9.27. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04.

Institutional Investors Weigh In On Critical Metals

Several institutional investors have recently modified their holdings of CRML. Alps Advisors Inc. lifted its stake in Critical Metals by 49.5% during the third quarter. Alps Advisors Inc. now owns 594,268 shares of the company’s stock worth $4,314,000 after purchasing an additional 196,731 shares during the last quarter. International Assets Investment Management LLC increased its stake in Critical Metals by 51.0% in the third quarter. International Assets Investment Management LLC now owns 26,450 shares of the company’s stock valued at $190,000 after purchasing an additional 8,930 shares during the last quarter. Verity Asset Management Inc. purchased a new position in Critical Metals in the third quarter valued at approximately $559,000. Signaturefd LLC raised its holdings in Critical Metals by 32.9% during the third quarter. Signaturefd LLC now owns 11,847 shares of the company’s stock worth $86,000 after purchasing an additional 2,933 shares in the last quarter. Finally, Canton Hathaway LLC boosted its holdings in shares of Critical Metals by 75.0% in the 3rd quarter. Canton Hathaway LLC now owns 35,000 shares of the company’s stock valued at $254,000 after buying an additional 15,000 shares in the last quarter. 86.44% of the stock is owned by hedge funds and other institutional investors.

About Critical Metals

Critical Metals Corp. is a mineral development company focused on advancing projects that supply critical raw materials for the energy transition and other high-technology applications. Its principal asset is the Wolfsberg Lithium Project in Carinthia, Austria, which is designed to produce lithium hydroxide for use in electric-vehicle batteries and other battery applications.

The Wolfsberg project includes plans for an integrated operation combining underground mining, mineral processing and downstream lithium conversion.