Arcadium Lithium (NYSE:ALTM) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Arcadium Lithium plc (NYSE:ALTM) saw an uptick in trading volume on Monday . 8,428,635 shares were traded during mid-day trading, a decline of 44% from the previous session’s volume of 15,154,540 shares.The stock last traded at $5.53 and had previously closed at $5.56.

Analysts Set New Price Targets

Several analysts recently weighed in on ALTM shares. Hsbc Global Res upgraded Arcadium Lithium to a “hold” rating in a research report on Thursday, October 10th. Raymond James downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Scotiabank upgraded shares of Arcadium Lithium from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 7th. UBS Group upgraded shares of Arcadium Lithium to a “hold” rating in a research report on Tuesday, September 3rd. Finally, KeyCorp downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Six analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Arcadium Lithium currently has an average rating of “Hold” and a consensus target price of $11.00.

Arcadium Lithium Price Performance

The company has a fifty day moving average price of $2.99 and a two-hundred day moving average price of $3.59. The company has a market capitalization of $5.95 billion, a P/E ratio of 5.32 and a beta of 1.61.

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