Critical Metals (NASDAQ:CRML) Shares Down 5.5% – Here’s Why

Critical Metals Corp. (NASDAQ:CRML) was down 5.5% during trading on Friday . The stock traded as low as $7.75 and last traded at $7.8040. Approximately 1,063,953 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 6,796,205 shares. The stock had previously closed at $8.26.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CRML shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Critical Metals in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Critical Metals from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Critical Metals Trading Down 6.3%

The stock’s fifty day moving average price is $9.80 and its 200 day moving average price is $7.45. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16.

Institutional Investors Weigh In On Critical Metals

A number of hedge funds and other institutional investors have recently bought and sold shares of CRML. Geode Capital Management LLC lifted its holdings in shares of Critical Metals by 272.6% during the second 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 bought a new position in Critical Metals during the 3rd quarter valued at approximately $1,952,000. FNY Investment Advisers LLC bought a new position in Critical Metals during the 2nd quarter valued at approximately $1,059,000. Vanguard Group Inc. raised its stake in Critical Metals by 40.0% during the third quarter. Vanguard Group Inc. now owns 291,104 shares of the company’s stock valued at $1,811,000 after buying an additional 83,225 shares during the last quarter. Finally, Shay Capital LLC bought a new stake in Critical Metals in the second quarter worth $984,000. Hedge funds and other institutional investors own 86.44% of the company’s stock.

About Critical Metals

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.