MP Materials (MP) Stock: CEO Cashes Out $12.8M - But Analysts Still See 39% Upside
TLDR
- MP Materials stock dropped 4.7% to $56.26, with trading volume down 27% from its daily average.
- Q2 revenue hit $108.49 million, beating estimates by a wide margin and up 89% year over year.
- EPS came in at -$0.01, matching analyst expectations, but the company remains unprofitable.
- CEO James Litinsky sold $12.8 million worth of stock in June, while COO Michael Rosenthal bought $543,000 worth.
- Analysts hold a โModerate Buyโ consensus with an average price target of $78.21, well above current levels.
MP Materials stock fell 4.7% to $56.26 on Friday, with the stock hitting an intraday low of $55.64. Trading volume came in at around 4.87 million, down 27% from its average daily volume of 6.65 million.
The stock had previously closed at $59.03. The drop comes as investors weigh a mix of strong revenue growth against continued losses and recent insider selling.
MP Materials reported Q2 earnings on August 6th. Revenue came in at $108.49 million, beating analyst estimates of $96.89 million and up 89% from the same quarter last year.
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