Arcadium Lithium plc (NYSE:ALTM) Sees Significant Growth in Short Interest

Arcadium Lithium plc (NYSE:ALTM) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 45,140,000 shares, a growth of 7.8% from the January 15th total of 41,870,000 shares. Based on an average trading volume of 13,730,000 shares, the days-to-cover ratio is presently 3.3 days. Currently, 4.4% of the shares of the stock are short sold.

Arcadium Lithium Stock Down 0.1 %

ALTM stock traded down $0.01 during midday trading on Tuesday, reaching $5.83. The company’s stock had a trading volume of 14,715,599 shares, compared to its average volume of 18,184,211. The business’s 50-day simple moving average is $5.48 and its 200-day simple moving average is $4.50. Arcadium Lithium has a 52 week low of $2.19 and a 52 week high of $5.84. The stock has a market cap of $6.27 billion, a PE ratio of 21.57 and a beta of 1.45.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Scotiabank cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. B. Riley downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Argus cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 12th. Ten analysts have rated the stock with a hold rating, Based on data from MarketBeat, Arcadium Lithium has a consensus rating of “Hold” and a consensus target price of $11.00.

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.