Critical Metals (NASDAQ:CRML) Shares Up 6.6% – Still a Buy?

Critical Metals Corp. (NASDAQ:CRML)’s share price was up 6.6% on Thursday. The company traded as high as $8.14 and last traded at $8.2330. Approximately 3,006,937 shares traded hands during trading, a decline of 75% from the average daily volume of 11,987,544 shares. The stock had previously closed at $7.72.

Analysts Set New Price Targets

Several research firms have issued reports on CRML. Wall Street Zen upgraded shares of Critical Metals from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 12th. Weiss Ratings cut shares of Critical Metals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 21st. Freedom Capital downgraded Critical Metals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Cantor Fitzgerald assumed coverage on Critical Metals in a research report on Tuesday, July 14th. They issued a “speculative buy” rating and a $18.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Critical Metals has an average rating of “Moderate Buy” and an average target price of $18.00.

Critical Metals Trading Down 4.2%

The company has a fifty day moving average price of $6.82 and a 200 day moving average price of $8.81.

Critical Metals (NASDAQ:CRML) last posted its quarterly earnings data on Friday, September 25th. The company reported ($0.40) earnings per share for the quarter.

Hedge Funds Weigh In On Critical Metals

Institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of Critical Metals during the 2nd quarter valued at $29,000. Allworth Financial LP grew its position in Critical Metals by 53.4% in the second quarter. Allworth Financial LP now owns 5,055 shares of the company’s stock worth $52,000 after acquiring an additional 1,760 shares in the last quarter. Corient Private Wealth LP grew its position in Critical Metals by 153.9% in the second quarter. Corient Private Wealth LP now owns 136,618 shares of the company’s stock worth $1,400,000 after acquiring an additional 82,815 shares in the last quarter. Bank of America Corp DE increased its stake 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 acquiring an additional 176,123 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in Critical Metals by 121.4% in the first 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 last quarter. 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 electric vehicle, battery storage, renewable energy and technology industries. The company’s principal asset is the Wolfsberg Lithium Project in Carinthia, Austria, which is intended to produce battery-grade lithium hydroxide for European markets.

The Wolfsberg project includes planned mining, processing and refining operations designed to support an integrated European lithium supply chain.