Critical Metals (NASDAQ:CRML) Stock Price Up 8.9% - Here's What Happened
Critical Metals (NASDAQ:CRML) stock rose 8.9% to $8.1380, despite a decline in trading volume. Analysts maintain a consensus 'Sell' rating, with Weiss Ratings and Wall Street Zen downgrading the stock. Institutional investors have adjusted their positions, with significant acquisitions by Linden Advisors LP and Geode Capital Management LLC. Critical Metals focuses on lithium mining and development, owning projects like Wolfsberg and Tanbreez.
Shares of Critical Metals Corp. (NASDAQ:CRML - Get Free Report) were up 8.9% on Tuesday . The stock traded as high as $7.99 and last traded at $8.1380. Approximately 723,314 shares were traded during trading, a decline of 89% from the average daily volume of 6,786,958 shares. The stock had previously closed at $7.47.
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Wall Street Analysts Forecast Growth
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A number of equities analysts have weighed in on the company. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Critical Metals in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Critical Metals from a "hold" rating to a "sell" rating in a research note on Saturday, October 11th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Critical Metals presently has a consensus rating of "Sell".
Read Our Latest Stock Report on CRML
Critical Metals Stock Up 9.4%
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The stock has a 50-day moving average price of $11.39 and a two-hundred day moving average price of $6.54. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13.
Institutional Investors Weigh In On Critical Metals
A number of large investors have recently made changes to their positions in the stock. Linden Advisors LP acquired a new position in shares of Critical Metals in the 1st quarter valued at $799,000. Geode Capital Management LLC grew its stake in Critical Metals by 272.6% during the 2nd quarter. Geode Capital Management LLC now owns 455,006 shares of the company's stock valued at $1,629,000 after purchasing an additional 332,878 shares during the last quarter. Creative Planning acquired a new position in shares of Critical Metals in the third quarter valued at about $1,952,000. FNY Investment Advisers LLC acquired a new position in shares of Critical Metals in the second quarter valued at about $1,059,000. Finally, Shay Capital LLC purchased a new position in shares of Critical Metals in the second quarter worth about $984,000. 86.44% of the stock is owned by hedge funds and other institutional investors.
About Critical Metals
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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.
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