Critical Metals (NASDAQ:CRML) Shares Gap Up – What’s Next?

Critical Metals Corp. (NASDAQ:CRML)’s share price gapped up before the market opened on Wednesday. The stock had previously closed at $6.54, but opened at $6.79. Critical Metals shares last traded at $6.3930, with a volume of 2,545,458 shares traded.

Wall Street Analysts Forecast Growth

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

Critical Metals Stock Down 1.6%

The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87. The stock’s 50-day simple moving average is $7.09 and its 200-day simple moving average is $8.67.

Hedge Funds Weigh In On Critical Metals

Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of Critical Metals by 327.5% in the first quarter. Bank of America Corp DE now owns 229,907 shares of the company’s stock valued at $1,825,000 after acquiring an additional 176,123 shares in the last quarter. Corient Private Wealth LP increased its position in shares of Critical Metals by 153.9% during the second quarter. Corient Private Wealth LP now owns 136,618 shares of the company’s stock valued at $1,400,000 after acquiring an additional 82,815 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Critical Metals by 31.1% during the first quarter. Bank of New York Mellon Corp now owns 123,904 shares of the company’s stock worth $984,000 after acquiring an additional 29,427 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in Critical Metals by 10.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 55,253 shares of the company’s stock worth $383,000 after acquiring an additional 5,253 shares during the period. Finally, Quantinno Capital Management LP bought a new stake in Critical Metals during the first quarter worth $434,000. Institutional investors own 86.44% of the company’s stock.

Critical Metals Company Profile

Critical Metals Corp. (NASDAQ: CRML) is a mining and development company focused on advancing projects that supply critical minerals used in energy, technology and industrial applications. The company’s portfolio is centered on lithium and rare earth elements, which are important inputs for electric vehicles, batteries, renewable energy systems and advanced manufacturing.

Its flagship asset is the Wolfsberg Lithium Project in Austria. Critical Metals is developing the project as an integrated European lithium operation, with plans covering the production of lithium-related materials for the battery supply chain.