USA Rare Earth (NASDAQ:USAR) Shares Down 17.1% – What’s Next?

USA Rare Earth Inc. (NASDAQ:USAR) was down 17.1% on Friday . The stock traded as low as $22.27 and last traded at $22.47. Approximately 19,866,997 shares changed hands during trading, an increase of 7% from the average daily volume of 18,637,961 shares. The stock had previously closed at $27.10.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on USAR. Northland Securities began coverage on USA Rare Earth in a research report on Thursday, April 23rd. They issued an “outperform” rating and a $45.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $40.00 price objective on shares of USA Rare Earth in a research report on Thursday. Wall Street Zen upgraded shares of USA Rare Earth from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Wedbush boosted their price objective on shares of USA Rare Earth from $29.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Finally, Roth Mkm reiterated a “buy” rating on shares of USA Rare Earth in a research report on Thursday. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.83.

USA Rare Earth Price Performance

The stock’s fifty day moving average price is $22.21 and its 200 day moving average price is $19.26. The stock has a market capitalization of $5.01 billion, a P/E ratio of -5.73 and a beta of 2.33.

USA Rare Earth (NASDAQ:USAR) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The business had revenue of $5.70 million during the quarter. On average, sell-side analysts expect that USA Rare Earth Inc. will post -0.35 earnings per share for the current year.

Institutional Trading of USA Rare Earth

A number of hedge funds have recently added to or reduced their stakes in USAR. Bayshore Capital Advisors LLC purchased a new stake in USA Rare Earth in the fourth quarter worth about $102,378,000. Vanguard Group Inc. lifted its stake in USA Rare Earth by 533.3% in the fourth quarter. Vanguard Group Inc. now owns 6,036,486 shares of the company’s stock worth $71,834,000 after acquiring an additional 5,083,288 shares during the period. Alyeska Investment Group L.P. lifted its stake in USA Rare Earth by 44.0% in the third quarter. Alyeska Investment Group L.P. now owns 12,799,325 shares of the company’s stock worth $219,034,000 after acquiring an additional 3,909,455 shares during the period. Inflection Point Holdings II LLC purchased a new stake in USA Rare Earth in the fourth quarter worth about $37,188,000. Finally, State Street Corp lifted its stake in USA Rare Earth by 78.4% in the fourth quarter. State Street Corp now owns 5,032,866 shares of the company’s stock worth $59,891,000 after acquiring an additional 2,212,177 shares during the period.

About USA Rare Earth

USA Rare Earth (NASDAQ: USAR) is a development-stage critical minerals company focused on advancing a fully integrated rare earth element (REE) and lithium project in the United States. Its flagship asset is the Round Top deposit in West Texas, a large, polymetallic concentration of light and heavy rare earth elements, lithium and other co-products. The company seeks to move this asset through resource delineation, pilot-scale processing and eventual commercial production to address growing domestic demand for secure REE supply chains.

In addition to exploration, USA Rare Earth is engineering an on-site separation facility that will utilize dry magnetic separation and hydrometallurgical flowsheets to produce mixed rare earth carbonates.