Arcadium Lithium plc (NYSE:ALTM) Short Interest Up 20.1% in August

Arcadium Lithium plc (NYSE:ALTM) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 86,370,000 shares, a growth of 20.1% from the August 15th total of 71,890,000 shares. Currently, 8.4% of the company’s shares are short sold. Based on an average daily trading volume, of 11,550,000 shares, the days-to-cover ratio is currently 7.5 days.

Analyst Ratings Changes

Several brokerages have recently issued reports on ALTM. Royal Bank of Canada raised shares of Arcadium Lithium to a “moderate buy” rating in a report on Tuesday, June 25th. UBS Group raised Arcadium Lithium to a “hold” rating in a research note on Tuesday, September 3rd.

Arcadium Lithium Price Performance

NYSE:ALTM traded up $0.01 on Tuesday, hitting $2.47. 10,295,974 shares of the company’s stock were exchanged, compared to its average volume of 12,239,526. The firm has a 50-day moving average price of $2.90 and a 200-day moving average price of $3.77. Arcadium Lithium has a 52 week low of $2.19 and a 52 week high of $20.20. The company has a market cap of $2.65 billion, a P/E ratio of 2.36 and a beta of 1.61.

Arcadium Lithium (NYSE:ALTM) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. The company had revenue of $254.50 million for the quarter, compared to analyst estimates of $253.63 million.

Arcadium Lithium Company Profile

Arcadium Lithium plc engages in the production of lithium chemicals products in the Asia Pacific, North America, Europe, the Middle East, Africa, and Latin America. It offers battery-grade lithium hydroxide, lithium carbonate, butyllithium and high purity lithium metal for electric vehicles, electronics, agricultural, industrial, greases, polymers, pharmaceutical, battery, and aerospace applications.