Critical Metals (NASDAQ:CRML) Trading Up 7.1% – What’s Next?

Shares of Critical Metals Corp. (NASDAQ:CRML) were up 7.1% on Friday . The company traded as high as $7.02 and last traded at $7.0490. Approximately 1,210,347 shares traded hands during trading, a decline of 90% from the average session volume of 12,317,517 shares. The stock had previously closed at $6.58.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Weiss Ratings lowered Critical Metals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 21st. Freedom Capital lowered Critical Metals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Cantor Fitzgerald assumed coverage on shares of Critical Metals in a research note on Tuesday, July 14th. They issued a “speculative buy” rating and a $18.00 target price for the company. Finally, Texas Capital raised Critical Metals to a “strong-buy” rating in a report on Thursday, April 16th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Critical Metals Price Performance

The company’s 50 day moving average price is $8.10 and its two-hundred day moving average price is $9.74.

Institutional Investors Weigh In On Critical Metals

Hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its stake in shares of Critical Metals by 327.5% in the 1st quarter. Bank of America Corp DE now owns 229,907 shares of the company’s stock valued at $1,825,000 after buying an additional 176,123 shares during the period. Royal Bank of Canada lifted its holdings in Critical Metals by 121.4% during the 1st quarter. Royal Bank of Canada now owns 10,947 shares of the company’s stock worth $87,000 after buying an additional 6,002 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Critical Metals by 14.3% in the first quarter. The Manufacturers Life Insurance Company now owns 14,630 shares of the company’s stock valued at $116,000 after purchasing an additional 1,829 shares during the period. Quantinno Capital Management LP acquired a new position in shares of Critical Metals during the first quarter worth about $434,000. Finally, State of Wyoming acquired a new position in Critical Metals during the 1st quarter worth approximately $51,000. Hedge funds and other institutional investors own 86.44% of the company’s stock.

Critical Metals Company Profile

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.