Arcadium Lithium (NYSE:ALTM) Shares Up 3.3% – What’s Next?

Arcadium Lithium plc (NYSE:ALTM)’s share price rose 3.3% during mid-day trading on Monday . The company traded as high as $5.05 and last traded at $5.01. Approximately 2,811,619 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 15,112,979 shares. The stock had previously closed at $4.85.

Analysts Set New Price Targets

Several analysts have issued reports on ALTM shares. TD Cowen cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. KeyCorp cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Raymond James downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Argus cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 12th. Finally, B. Riley lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Ten investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.00.

Arcadium Lithium Stock Performance

The company has a 50 day simple moving average of $5.28 and a two-hundred day simple moving average of $3.90. The company has a market cap of $5.66 billion, a PE ratio of 19.48 and a beta of 1.44.

Arcadium Lithium (NYSE:ALTM) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The firm had revenue of $203.10 million for the quarter, compared to analyst estimates of $263.14 million.

About Arcadium Lithium

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.