USA Rare Earth (NASDAQ:USAR) Stock Price Down 7.9% Following Insider Selling

USA Rare Earth Inc. (NASDAQ:USAR) shares fell 7.9% on Monday after an insider sold shares in the company. The company traded as low as $15.48 and last traded at $15.83. 3,141,269 shares were traded during mid-day trading, an increase of 36% from the average session volume of 2,303,071 shares. The stock had previously closed at $17.19.

Specifically, Director Michael Blitzer sold 2,091,849 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $15.75, for a total value of $32,946,621.75. The sale was disclosed in a filing with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on USAR shares. Wall Street Zen downgraded shares of USA Rare Earth from a “hold” rating to a “sell” rating in a research note on Saturday. Canaccord Genuity Group started coverage on shares of USA Rare Earth in a research note on Friday, June 13th. They issued a “buy” rating and a $17.00 target price for the company. Roth Capital restated a “buy” rating on shares of USA Rare Earth in a research note on Friday, June 13th. Finally, Cantor Fitzgerald initiated coverage on shares of USA Rare Earth in a report on Friday, August 1st. They issued an “overweight” rating and a $16.00 price target for the company. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $16.00.

USA Rare Earth Trading Down 5.5%

The firm’s 50-day moving average price is $13.09.

USA Rare Earth (NASDAQ:USAR) last announced its earnings results on Monday, August 11th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.05.

Hedge Funds Weigh In On USA Rare Earth

Institutional investors and hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC boosted its position in USA Rare Earth by 158.2% during the second quarter. NewEdge Advisors LLC now owns 2,324 shares of the company’s stock worth $25,000 after acquiring an additional 1,424 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in shares of USA Rare Earth by 10,448.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 2,637 shares of the company’s stock valued at $29,000 after acquiring an additional 2,612 shares during the period. LMR Partners LLP purchased a new stake in shares of USA Rare Earth in the 2nd quarter valued at approximately $145,000. Diametric Capital LP purchased a new stake in shares of USA Rare Earth in the 2nd quarter valued at approximately $147,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of USA Rare Earth in the 2nd quarter valued at approximately $223,000.

USA Rare Earth Company Profile

USA Rare Earth, Inc is domestic supplier of rare earth magnets and heavy rare earth elements. It is developing a vertically integrated, domestic supply chain for rare earth element magnet production, with a facility in Stillwater, Oklahoma, and mining rights to the Round Top heavy rare earth and critical minerals deposit in West Texas.