In Wednesday’s Wall Street session, MP Materials Corporation (NYSE:MP) shares traded at $14.24, up 3.64% from the previous session.
MP stock price is now -8.00% away from the 50-day moving average and -13.03% away from the 200-day moving average. The market capitalization of the company currently stands at $2.35B.
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With the price target reduced from $20 to $16, JP Morgan Downgraded its rating from Overweight to Neutral for MP Materials Corporation (NYSE: MP). On March 13, 2024, Morgan Stanley Downgraded its previous ‘Overweight’ rating to ‘Equal-Weight’ on the stock reducing its target price from $26 to quote $15.50, while ‘Northland Capital’ rates the stock as ‘Outperform’
In other news, Corbett Ryan, Chief Financial Officer sold 50,000 shares of the company’s stock on May 28 ’24. The stock was sold for $846,500 at an average price of $16.93. Upon completion of the transaction, the Chief Financial Officer now directly owns 325,021 shares in the company, valued at $4.63 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 16 ’24, Director McKnight Andrew A. sold 317,750 shares of the business’s stock. A total of $5,741,742 was realized by selling the stock at an average price of $18.07. This leaves the insider owning 86,000 shares of the company worth $1.22 million. A total of 25.84% of the company’s stock is owned by insiders.
During the past 12 months, MP Materials Corporation has had a low of $12.09 and a high of $26.53. As of last week, the company has a debt-to-equity ratio of 0.83, a current ratio of 10.29, and a quick ratio of 9.28. The fifty day moving average price for MP is $15.4434 and a two-hundred day moving average price translates $16.33075 for the stock.
The latest earnings results from MP Materials Corporation (NYSE: MP) was released for 2024-03-31. The net profit margin was 1.62% and return on equity was 0.27% for MP. The company reported revenue of $48.68 million for the quarter, compared to $95.7 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -49.13 percent.
