223,354 Shares in USA Rare Earth Inc. $USAR Purchased by Overbrook Management Corp

Overbrook Management Corp bought a new position in USA Rare Earth Inc. (NASDAQ:USAR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 223,354 shares of the company’s stock, valued at approximately $3,145,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Carlson Financial Inc. boosted its holdings in shares of USA Rare Earth by 5.7% during the second quarter. Carlson Financial Inc. now owns 11,780 shares of the company’s stock valued at $254,000 after acquiring an additional 635 shares during the period. Sterling Capital Management LLC increased its holdings in shares of USA Rare Earth by 29.1% in the 1st quarter. Sterling Capital Management LLC now owns 3,676 shares of the company’s stock worth $56,000 after acquiring an additional 829 shares during the period. First PREMIER Bank increased its holdings in shares of USA Rare Earth by 100.0% in the 2nd quarter. First PREMIER Bank now owns 2,000 shares of the company’s stock worth $43,000 after acquiring an additional 1,000 shares during the period. State of Wyoming lifted its position in USA Rare Earth by 100.4% in the 1st quarter. State of Wyoming now owns 2,509 shares of the company’s stock valued at $38,000 after purchasing an additional 1,257 shares during the last quarter. Finally, Ameritas Advisory Services LLC lifted its position in USA Rare Earth by 276.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 1,987 shares of the company’s stock valued at $43,000 after purchasing an additional 1,459 shares during the last quarter.

USA Rare Earth Price Performance

NASDAQ:USAR traded down $0.60 during mid-day trading on Thursday, reaching $12.63. The stock had a trading volume of 19,853,418 shares, compared to its average volume of 16,046,637. The stock has a market cap of $3.09 billion, a P/E ratio of -5.20 and a beta of 2.66. The business’s 50 day moving average is $16.76 and its 200 day moving average is $19.34. USA Rare Earth Inc. has a fifty-two week low of $11.45 and a fifty-two week high of $43.98.

USA Rare Earth (NASDAQ:USAR) last posted its earnings results on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The business had revenue of $5.82 million for the quarter. Equities analysts expect that USA Rare Earth Inc. will post -0.62 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on USAR shares. Needham & Company LLC reduced their target price on shares of USA Rare Earth from $39.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Jefferies Financial Group began coverage on shares of USA Rare Earth in a research note on Wednesday, September 2nd. They issued a “buy” rating and a $21.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of USA Rare Earth in a 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, Roth Capital decreased their price objective on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, USA Rare Earth has an average rating of “Moderate Buy” and a consensus price target of $33.71.

USA Rare Earth Profile

USA Rare Earth, Inc is a U.S.-based critical minerals company focused on developing a domestic, vertically integrated supply chain for rare earth elements and rare earth permanent magnets. The company’s activities span the planned mining and processing of rare earth materials and the manufacture of neodymium-iron-boron (NdFeB) magnets, which are used in electric vehicles, renewable energy systems, electronics, aerospace and defense applications.

The company’s principal resource project is the Round Top rare earth and critical minerals project in Hudspeth County, Texas.