5E Advanced Materials (NASDAQ:FEAM) Announces Earnings Results

5E Advanced Materials (NASDAQ:FEAM) posted its quarterly earnings data on Thursday. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.18, FiscalAI reports.

5E Advanced Materials Stock Performance

Shares of NASDAQ FEAM opened at $2.50 on Friday. The business has a 50 day simple moving average of $1.48 and a 200 day simple moving average of $1.59. 5E Advanced Materials has a 52 week low of $0.90 and a 52 week high of $7.50. The stock has a market cap of $103.78 million, a price-to-earnings ratio of -1.69 and a beta of 1.97.

Analyst Ratings Changes

FEAM has been the topic of several research analyst reports. Wall Street Zen upgraded shares of 5E Advanced Materials from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of 5E Advanced Materials in a research report on Friday, July 17th. Finally, HC Wainwright reiterated a “buy” rating and issued a $3.50 target price (down from $5.50) on shares of 5E Advanced Materials in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $5.25.

Hedge Funds Weigh In On 5E Advanced Materials

Several hedge funds have recently bought and sold shares of FEAM. LeClair Wealth Partners LLC raised its position in shares of 5E Advanced Materials by 20.0% in the fourth quarter. LeClair Wealth Partners LLC now owns 30,000 shares of the company’s stock valued at $92,000 after purchasing an additional 4,990 shares during the period. Potomac Capital Management Inc. bought a new position in 5E Advanced Materials in the 4th quarter worth $186,000. Renaissance Technologies LLC acquired a new position in 5E Advanced Materials during the 1st quarter worth $268,000. Bluescape Energy Partners LLC boosted its stake in 5E Advanced Materials by 7.0% during the 4th quarter. Bluescape Energy Partners LLC now owns 8,130,997 shares of the company’s stock valued at $24,800,000 after purchasing an additional 533,648 shares during the period. Finally, Aristides Capital LLC acquired a new stake in 5E Advanced Materials in the 1st quarter valued at approximately $765,000.

5E Advanced Materials Company Profile

5E Advanced Materials, Inc is a development-stage company focused on producing boron and lithium products. Its primary project is the Fort Cady Borate and Lithium Project, a mineral resource located in Southern California’s Mojave Desert. The company is developing an integrated operation intended to extract boron and lithium from mineralized brines and produce refined materials for industrial and technology applications.

Planned products include boric acid, specialty boron materials and lithium carbonate.