Critical Metals (NASDAQ:CRML) Trading Up 6.8% – Here’s Why

Critical Metals Corp. (NASDAQ:CRML) traded up 6.8% during mid-day trading on Wednesday . The company traded as high as $6.80 and last traded at $6.7830. Approximately 1,353,976 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 13,093,500 shares. The stock had previously closed at $6.35.

Analysts Set New Price Targets

CRML has been the subject of several recent research reports. Texas Capital raised Critical Metals to a “strong-buy” rating in a report on Thursday, April 16th. Weiss Ratings downgraded Critical Metals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Finally, Cantor Fitzgerald assumed coverage on Critical Metals in a report on Tuesday, July 14th. They issued a “speculative buy” rating and a $18.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Critical Metals presently has an average rating of “Buy” and an average price target of $18.00.

Critical Metals Trading Down 6.3%

The firm’s 50-day moving average price is $9.57 and its 200 day moving average price is $10.72.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CRML. AQR Capital Management LLC bought a new position in Critical Metals in the 1st quarter worth about $69,000. Rhumbline Advisers raised its holdings in shares of Critical Metals by 582.5% during the first quarter. Rhumbline Advisers now owns 43,047 shares of the company’s stock valued at $60,000 after buying an additional 36,740 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Critical Metals by 272.6% during the second quarter. Geode Capital Management LLC now owns 455,006 shares of the company’s stock valued at $1,629,000 after buying an additional 332,878 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Critical Metals by 142.6% during the second quarter. JPMorgan Chase & Co. now owns 33,039 shares of the company’s stock worth $118,000 after buying an additional 19,418 shares during the period. Finally, Cerity Partners LLC acquired a new position in shares of Critical Metals during the second quarter worth approximately $226,000. 86.44% of the stock is owned by institutional investors and hedge funds.

About Critical Metals

Critical Metals Corp. engages in the mining, exploration, and development of lithium metals. It owns Wolfsberg Project and Tanbreez Project. The company was founded on October 24, 2022 and is headquartered in British Virgin Islands.