Critical Metals (NASDAQ:CRML) Shares Gap Up – Here’s What Happened

Critical Metals Corp. (NASDAQ:CRML)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $6.35, but opened at $6.87. Critical Metals shares last traded at $6.5160, with a volume of 2,431,793 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wall Street Zen raised shares of Critical Metals from a “strong sell” rating to a “sell” rating in a research report on Saturday. Freedom Capital cut shares of Critical Metals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Weiss Ratings lowered shares of Critical Metals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 21st. Finally, Cantor Fitzgerald began coverage on Critical Metals in a research note on Tuesday, July 14th. They set a “speculative buy” rating and a $18.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Critical Metals Stock Performance

The company has a 50 day moving average price of $6.81 and a two-hundred day moving average price of $8.93.

Institutional Trading of Critical Metals

A number of institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new stake in Critical Metals during the 2nd quarter valued at about $29,000. Allworth Financial LP grew its position in shares of Critical Metals by 53.4% in the second quarter. Allworth Financial LP now owns 5,055 shares of the company’s stock valued at $52,000 after purchasing an additional 1,760 shares in the last quarter. Corient Private Wealth LP lifted its position in Critical Metals by 153.9% during the second 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 in the last quarter. Bank of America Corp DE boosted its stake in Critical Metals by 327.5% during the first quarter. Bank of America Corp DE now owns 229,907 shares of the company’s stock worth $1,825,000 after buying an additional 176,123 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in Critical Metals by 121.4% in the 1st quarter. Royal Bank of Canada now owns 10,947 shares of the company’s stock valued at $87,000 after buying an additional 6,002 shares in the last quarter. 86.44% of the stock is owned by institutional investors and hedge funds.

Critical Metals Company Profile

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.