Critical Metals (NASDAQ:CRML) Stock Jumps 9.7% – Still a Buy?

Critical Metals Corp. (NASDAQ:CRML)’s share price shot up 9.7% during mid-day trading on Thursday. The stock traded as high as $6.78 and last traded at $6.8650. Approximately 5,291,695 shares changed hands during trading, a decline of 54% from the average daily volume of 11,541,183 shares. The stock had previously closed at $6.26.

Wall Street Analysts Forecast Growth

CRML has been the topic of a number of recent analyst reports. Cantor Fitzgerald assumed coverage on shares of Critical Metals in a report on Tuesday, July 14th. They issued a “speculative buy” rating and a $18.00 price objective on the stock. Freedom Capital downgraded Critical Metals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings upgraded Critical Metals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 28th. Wall Street Zen lowered Critical Metals from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 3rd. Finally, UBS Group set a $20.00 target price on Critical Metals in a research report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Critical Metals currently has an average rating of “Moderate Buy” and an average price target of $19.00.

Critical Metals Trading Up 0.3%

The stock has a 50-day simple moving average of $7.09 and a 200-day simple moving average of $8.65. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.87 and a quick ratio of 0.87.

Institutional Trading of Critical Metals

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in Critical Metals by 327.5% during the 1st quarter. Bank of America Corp DE now owns 229,907 shares of the company’s stock worth $1,825,000 after acquiring an additional 176,123 shares in the last quarter. Corient Private Wealth LP increased its position in shares of Critical Metals by 153.9% in the 2nd quarter. Corient Private Wealth LP now owns 136,618 shares of the company’s stock worth $1,400,000 after purchasing an additional 82,815 shares during the last quarter. Allworth Financial LP increased its position in shares of Critical Metals by 53.4% in the 2nd quarter. Allworth Financial LP now owns 5,055 shares of the company’s stock worth $52,000 after purchasing an additional 1,760 shares during the last quarter. Royal Bank of Canada increased its position in shares of Critical Metals by 121.4% in the 1st quarter. Royal Bank of Canada now owns 10,947 shares of the company’s stock worth $87,000 after purchasing an additional 6,002 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Critical Metals by 14.3% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 86.44% of the company’s stock.

About Critical Metals

Critical Metals Corp. (NASDAQ: CRML) is a mining and development company focused on advancing projects that supply critical minerals used in energy, technology and industrial applications. The company’s portfolio is centered on lithium and rare earth elements, which are important inputs for electric vehicles, batteries, renewable energy systems and advanced manufacturing.

Its flagship asset is the Wolfsberg Lithium Project in Austria. Critical Metals is developing the project as an integrated European lithium operation, with plans covering the production of lithium-related materials for the battery supply chain.