USA Rare Earth (NASDAQ:USAR) Stock Price Down 8.5% – Should You Sell?

USA Rare Earth Inc. (NASDAQ:USAR) shares fell 8.5% during trading on Wednesday. The company traded as low as $10.15 and last traded at $10.32. 20,813,321 shares traded hands during mid-day trading, an increase of 30% from the average session volume of 16,018,357 shares. The stock had previously closed at $11.28.

Wall Street Analysts Forecast Growth

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

USA Rare Earth Stock Down 5.7%

The stock has a market cap of $2.56 billion, a P/E ratio of -4.29 and a beta of 2.66. The company’s 50 day moving average price is $16.20 and its 200-day moving average price is $19.14.

USA Rare Earth (NASDAQ:USAR) last announced its earnings results on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The business had revenue of $5.82 million during the quarter. Equities research analysts anticipate that USA Rare Earth Inc. will post -0.62 earnings per share for the current year.

Institutional Trading of USA Rare Earth

Hedge funds have recently bought and sold shares of the business. Gunderson Capital Management LLC purchased a new stake in USA Rare Earth in the 3rd quarter valued at about $147,000. GAMMA Investing LLC lifted its position in shares of USA Rare Earth by 55.2% during the 3rd quarter. GAMMA Investing LLC now owns 5,738 shares of the company’s stock valued at $81,000 after buying an additional 2,042 shares during the last quarter. Overbrook Management Corp purchased a new position in shares of USA Rare Earth during the 3rd quarter valued at $3,145,000. Farther Finance Advisors LLC grew its stake in shares of USA Rare Earth by 41.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 18,829 shares of the company’s stock worth $265,000 after acquiring an additional 5,540 shares during the period. Finally, MCF Advisors LLC bought a new position in shares of USA Rare Earth during the 2nd quarter worth $43,000.

USA Rare Earth Company Profile

USA Rare Earth, Inc is a U.S.-based critical minerals company focused on developing a domestic, vertically integrated supply chain for rare earth elements and rare earth permanent magnets. The company’s activities span the planned mining and processing of rare earth materials and the manufacture of neodymium-iron-boron (NdFeB) magnets, which are used in electric vehicles, renewable energy systems, electronics, aerospace and defense applications.

The company’s principal resource project is the Round Top rare earth and critical minerals project in Hudspeth County, Texas.