USA Rare Earth (NASDAQ:USAR) Trading 2.3% Higher – Time to Buy?

USA Rare Earth Inc. (NASDAQ:USAR)’s share price rose 2.3% during mid-day trading on Tuesday . The stock traded as high as $17.74 and last traded at $17.51. Approximately 7,734,385 shares traded hands during trading, an increase of 34% from the average daily volume of 5,763,552 shares. The stock had previously closed at $17.12.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on USAR. Canaccord Genuity Group upped their target price on shares of USA Rare Earth from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Wall Street Zen cut USA Rare Earth from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. William Blair started coverage on shares of USA Rare Earth in a research report on Monday, October 20th. They issued an “outperform” rating for the company. Roth Capital set a $40.00 target price on shares of USA Rare Earth in a research note on Friday, October 10th. Finally, UBS Group restated a “buy” rating on shares of USA Rare Earth in a research report on Monday. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, USA Rare Earth has a consensus rating of “Moderate Buy” and an average target price of $26.33.

USA Rare Earth Stock Up 2.3%

The company’s 50-day moving average is $20.30 and its two-hundred day moving average is $15.79. The company has a market capitalization of $2.32 billion, a P/E ratio of -33.67 and a beta of 0.92.

USA Rare Earth (NASDAQ:USAR) last issued its earnings results on Thursday, November 6th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.19).

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in USAR. Pier 88 Investment Partners LLC acquired a new position in shares of USA Rare Earth in the 2nd quarter valued at $588,000. Newtyn Management LLC acquired a new stake in shares of USA Rare Earth during the first quarter worth about $4,114,000. Titleist Asset Management LLC purchased a new stake in USA Rare Earth in the first quarter valued at approximately $145,000. MMCAP International Inc. SPC acquired a new position in USA Rare Earth in the 2nd quarter worth approximately $261,000. Finally, International Assets Investment Management LLC acquired a new position in USA Rare Earth in the 2nd quarter worth approximately $250,000.

About USA Rare Earth

USA Rare Earth, Inc is domestic supplier of rare earth magnets and heavy rare earth elements. It is developing a vertically integrated, domestic supply chain for rare earth element magnet production, with a facility in Stillwater, Oklahoma, and mining rights to the Round Top heavy rare earth and critical minerals deposit in West Texas.