USA Rare Earth (NASDAQ:USAR) Shares Down 5.9% – Time to Sell?

Shares of USA Rare Earth Inc. (NASDAQ:USAR) were down 5.9% on Thursday. The company traded as low as $9.41 and last traded at $9.63. 12,548,502 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 15,918,019 shares. The stock had previously closed at $10.23.

Analysts Set New Price Targets

Several research firms recently commented on USAR. Cantor Fitzgerald reiterated an “overweight” rating on shares of USA Rare Earth in a research report on Tuesday, August 11th. Jefferies Financial Group began coverage on shares of USA Rare Earth in a research report on Wednesday, September 2nd. They issued a “buy” rating and a $21.00 price target on the stock. Weiss Ratings cut shares of USA Rare Earth from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Roth Capital cut their price objective on USA Rare Earth from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Finally, Needham & Company LLC decreased their price objective on USA Rare Earth from $39.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.71.

USA Rare Earth Stock Performance

The company has a fifty day simple moving average of $15.51 and a two-hundred day simple moving average of $19.01. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of -3.96 and a beta of 2.66.

USA Rare Earth (NASDAQ:USAR) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The business had revenue of $5.82 million during the quarter. As a group, analysts expect that USA Rare Earth Inc. will post -0.62 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in USAR. Ascentis Independent Advisors purchased a new position in USA Rare Earth in the 1st quarter worth approximately $27,000. KBC Group NV purchased a new stake in shares of USA Rare Earth during the first quarter valued at approximately $35,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of USA Rare Earth during the first quarter valued at approximately $38,000. State of Wyoming lifted its position in shares of USA Rare Earth by 100.4% during the first quarter. State of Wyoming now owns 2,509 shares of the company’s stock worth $38,000 after purchasing an additional 1,257 shares in the last quarter. Finally, Allworth Financial LP acquired a new position in shares of USA Rare Earth during the second quarter worth $38,000.

About USA Rare Earth

USA Rare Earth, Inc (NASDAQ:USAR) is developing an integrated domestic supply chain for rare earth and other critical minerals. The company’s activities include the exploration and planned extraction of mineral resources, processing and separation of rare earth elements, and the production of sintered neodymium-iron-boron (NdFeB) permanent magnets used in electric vehicles, wind turbines, defense systems, electronics and other advanced technologies.

The company’s flagship asset is the Round Top Mountain project in Hudspeth County, Texas.