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

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

Wall Street Analyst Weigh In

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

Critical Metals Stock Performance

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 firm has a 50-day moving average of $7.16 and a 200-day moving average of $9.27.

Institutional Trading of Critical Metals

Several large investors have recently added to or reduced their stakes in CRML. Bank of America Corp DE boosted its position in 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 buying an additional 176,123 shares during the last quarter. Corient Private Wealth LP increased its holdings in Critical Metals by 153.9% in the 2nd quarter. Corient Private Wealth LP now owns 136,618 shares of the company’s stock worth $1,400,000 after buying an additional 82,815 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Critical Metals during the 2nd quarter worth approximately $29,000. Allworth Financial LP raised its position in Critical Metals by 53.4% during the 2nd quarter. Allworth Financial LP now owns 5,055 shares of the company’s stock worth $52,000 after buying an additional 1,760 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Critical Metals by 121.4% during the 1st quarter. Royal Bank of Canada now owns 10,947 shares of the company’s stock valued at $87,000 after acquiring an additional 6,002 shares during the period. Hedge funds and other institutional investors own 86.44% of the company’s stock.

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.