Arcadium Lithium (NYSE:ALTM) Shares Up 0.1% – Here’s What Happened

Arcadium Lithium plc (NYSE:ALTM)’s stock price traded up 0.1% on Tuesday . The company traded as high as $5.85 and last traded at $5.85. 93,149,574 shares traded hands during trading, an increase of 494% from the average session volume of 15,690,026 shares. The stock had previously closed at $5.84.

Analyst Ratings Changes

Separately, Argus downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating, According to MarketBeat, Arcadium Lithium presently has an average rating of “Hold” and a consensus target price of $11.00.

Arcadium Lithium Trading Up 0.1 %

The business has a fifty day simple moving average of $5.81 and a two-hundred day simple moving average of $5.21. The company has a market cap of $6.29 billion, a PE ratio of 73.06 and a beta of 1.48.

Arcadium Lithium (NYSE:ALTM) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03). The firm had revenue of $289.00 million for the quarter, compared to analysts’ expectations of $250.96 million.

Insider Transactions at Arcadium Lithium

In other news, CEO Paul W. Graves sold 234,038 shares of Arcadium Lithium stock in a transaction on Monday, February 24th. The stock was sold at an average price of $5.82, for a total transaction of $1,362,101.16. Following the transaction, the chief executive officer now owns 1,332,430 shares in the company, valued at $7,754,742.60. The trade was a 14.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Arcadium Lithium

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Comprehensive Money Management Services LLC purchased a new stake in shares of Arcadium Lithium in the 4th quarter valued at approximately $82,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Arcadium Lithium by 31.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 65,364 shares of the company’s stock valued at $335,000 after acquiring an additional 15,520 shares during the last quarter. Finally, CIBRA Capital Ltd purchased a new position in Arcadium Lithium in the fourth quarter worth approximately $4,235,000. 27.00% of the stock is currently owned by institutional investors and hedge funds.

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.